The National Payments Corporation of India (NPCI) has given its approval to Facebook -owned messaging platform WhatsApp to go live on the Unified Payments Interface (UPI) in the multi-bank model.
While WhatsApp awaits final clearance from the Reserve Bank of India (RBI), which will allow the company to roll the service out to its 400-million-plus user base, with NPCI’s green light, it can be offered to 20 million users, compared with 1 million now.
However, alongside the clearance to Facebook-owned WhatsApp, NPCI also issued a directive Thursday asking third-party UPI providers to cap the number of transaction on any platform at 30 per cent of the total volume of transactions processed in UPI, effective January 1, 2021.
The National Payments Corporation of India (NPCI) has given its approval to Facebook-owned messaging platform WhatsApp to go live on the Unified Payments Interface (UPI) in the multi-bank model.
While WhatsApp awaits final clearance from the Reserve Bank of India (RBI), which will allow the company to roll the service out to its 400-million-plus user base, with NPCI’s green light, it can be offered to 20 million users, compared with 1 million now.
However, alongside the clearance to Facebook-owned WhatsApp, NPCI also issued a directive Thursday asking third-party UPI providers to cap the number of transaction on any platform at 30 per cent of the total volume of transactions processed in UPI, effective January 1, 2021. ( Indian Express )
