Bengaluru :If one goes by the report on THE KEN, person-to-person payment solutions in India is going to be a reality soon on Whatsapp.
Mobile Payment apps showed exponential growth amid demonetisation with Paytm and Mobikwik being the biggest gainers. But the biggest challenger yet is about to join the race
The company is in talks with the government to add support for UPI, a new payment system by the National Payments Corporation of India (NPCI). UPI is open to third-party services, to enable fast payments as easy as sending a text.
“India is an important country for WhatsApp, and we’re understanding how we can contribute more to the vision of Digital India.” , sources said quoting spokesperson from whatapp.
The strategic move is based on the visit of Brian Acton,who met Indian government officials to explore ways to contribute to “India’s vision for digital commerce.” Acton also said that over 200 million users in India now use WhatsApp.
Industry sources reveal, a consortium of major banks in India, the NPCI has been working aggressively to chalk out its own payment solutions to crush mobile wallet systems such as Paytm.
India’s Prime Minister launched BHIM app, which works on top of UPI recently. He claimed that BHIM app is destined to change the way Indians make payments. However despite large scale promotion, BHIM app is far from growing mainstream.