Facebook-owned WhatsApp is working on launching payments in India. UPI appears to have won over wallets as the mechanism
WhatsApp’s UPI choice is led by the fact that all other payment systems would hamper user experience
Wallets could have been favourable but the RBI’s draft guidelines make it an unviable option
Picking UPI would also help Facebook get on the right side of the government
UPI is a fledgeling system and it’s free. So WhatsApp won’t be able to make money using it
WhatsApp, the Facebook-owned messaging app, is working quietly to launch person-to-person payments on its platform within the next six months, said four sources with knowledge of the matter.
The initiative is seen as strategic for Facebook and currently being driven out of the company’s headquarters in Menlo Park, California. Its career page lists, among other roles, an opening for a digital transaction lead with knowledge of UPI, Aadhaar and BHIM, to be based out of Menlo Park.
WhatsApp has no team in India as yet. But with over 200 million Indian users already,…
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