After months of waiting, Facebook has received permission from the National Payments Corporation of India to roll out its digital payments platform WhatsApp Pay across the country.
The launch of digital payment service WhatsApp Pay was delayed due to non-compliance with data localization norms. After some time, all the issues were resolved, and the Indian regulator no longer had any complaints about the new payment system. According to online sources, βNPCI has given approval for a phased rollout of digital payment service.β It is also reported that at the initial stage the payment system will be available to 10 million users in India, and after the company fulfills a number of regulatory requirements, the restriction will be lifted.
WhatsApp Pay is expected to become one of the largest players in the Indian market, which will compete with other similar solutions like Google Pay, PhonePE, PayTM, etc. Many large technology companies are striving to dominate the Indian mobile market, which has about 400 million users. However, Facebook's plans are more ambitious as the company plans to launch WhatsApp Pay globally in the future. At one of his previous speeches, Facebook founder Mark Zuckerberg said that the company wants to create a payment system that will make sending money as easy as sharing photos.
The ability to transfer money and make purchases directly inside one of the most widespread instant messengers in the world will certainly be popular, as the developers promise users a high level of security and privacy. WhatsApp Pay will probably be able to enter the markets of some other countries this year.
Source: 3dnews.ru