NPCI permits WhatsApp to expand payment services to 100 million users

NPCI has given WhatsApp authority to expand its payments service to 100 million users in the South Asian market.

According to a source knowledgeable with the situation, the National Payments Corporation of India, which controls the widely used UPI instrument, has given WhatsApp authority to expand its payments service to 100 million users in the South Asian market. WhatsApp has previously been granted permission to roll out WhatsApp Pay to 40 million users in China, the world’s second-largest internet market.

WhatsApp launched its payments service in India in 2020, but due to regulatory opposition, the Meta-owned service has failed to aggressively spread the services to a bigger audience in India. According to a source familiar with the situation, the NPCI has insisted on WhatsApp bringing out the payments service in stages.

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NPCI announced in a statement that WhatsApp has been permitted to expand to an additional 60 million subscribers.

“National Payments Corporation of India (NPCI) has approved an additional sixty (60) million users on UPI for WhatsApp. With this approval, WhatsApp will be able to expand the service to its hundred (100) million users,” a spokesperson said.

WhatsApp Pay’s delayed rollout has allowed the company’s payment rivals to gain market share. Over 70% of the UPI market is controlled by Google Pay and Walmart-backed PhonePe. PhonePe claimed in a statement on Wednesday that it processed 100 million transactions every day.