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After two years in test mode, WhatsApp Pay finally launches in India

Added 11-06-20 01:04:02am EST - “After serving 1 million users for over two years in test mode, WhatsApp Pay is finally launching in India. The company first launched the payment service in the country in 2018, but faced regulatory hurdles in getting approval for…” - Thenextweb.com

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Posted By TheNewsCommenter: From Thenextweb.com: “After two years in test mode, WhatsApp Pay finally launches in India”. Below is an excerpt from the article.

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After serving 1 million users for over two years in test mode, WhatsApp Pay is finally launching in India. The company first launched the payment service in the country in 2018, but faced regulatory hurdles in getting approval for a full-fledged launch.

WhatsApp‘s payment system is based on a standard called Unified Payment Interface (UPI), defined by the National Payments Corporation of India (NPCI). The company uses the same methods as other incumbent apps such as Google Pay, Walmart-owned PhonePe, and India‘s Paytm. 

We’re delighted to be working with five leading banks in India: ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank. People can send money on WhatsApp to anyone using a UPI supported app.

“With UPI, India has created something truly special and is opening up a world of opportunities for micro and small businesses that are the backbone of the Indian economy. India is the first country to do anything like this. I’m glad we were able to support this effort and work together to help achieve a more digital India,” CEO Mark Zuckerberg said in a video statement. 

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