WhatsApp introduces new UPI payment service, Zuckerberg tags it ‘as easy as sending a message’

The launch of the service was stuck in regulatory and legal hurdles.

WhatsApp has introduced its UPI payment service in India, for the first time. The CEO of Facebook the company that owns WhatsApp, Mark Zuckerberg said that sending money through WhatsApp is as easy as sending a message.

“There is no fee, and it is supported by more than 140 banks,” Zuckerberg said, adding that it is secure and private too. The launch of the service was stuck in regulatory and legal hurdles.

On November 5, the National Payments Corporation of India (NPCI), an umbrella organization for operating retail payments and settlement systems in India allowed WhatsApp to go live on UPI. It allowed WhatsApp to launch its payment service saying “WhatsApp can expand its UPI base in a graded manner starting with a maximum number of registered users at 20 million.”

On the launch of the UPI payment service, Mark congratulated India for creating something ‘truly special’ and the service will open the doors 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 am glad we were able to support this effort and work together to help achieve a more digital India. I want to thank all our partners who have made this possible,” Zuckerberg said in a video statement.

WhatsApp was aiming for a long time to utilize its strong base of Indian customers and was working on the security and reliability of Whatsapp UPI with NPCI. “We have built it using India’s Unified Payments Interface, which makes it easy for anyone to instantly accept payments across different apps — and for companies to provide people with great services,” Zuckerberg said.

The good thing about this payment app is that it is available in ten Indian regional language versions of WhatsApp. India is a huge market for UPI payment apps and apps like Google Pay, PhonePe, and Paytm are already operating in this field but WhatsApp can give tough competition to all these apps.

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