WhatsApp said on 06 November 2020 that it has started its payment services in India after getting permission from the National Payments Corporation of India (NPCI). According to NPCI, WhatsApp can increase its UPI user base in a phased manner.
India currently has 40 crore WhatsApp users out of which WhatsApp payment option will be available for a selected 2 crore people. Presently, Paytm, Google Pay and Phone Pay are big players in the digital payment market. WhatsApp Pay has been in beta testing in India for two years.
WhatsApp Pay has been approved by the government, but the condition is that it will be able to use 20 million users at present, while the number of WhatsApp users in India is more than 40 crore. WhatsApp has been trying to launch its payment service for a long time because it wants to come in the digital payment market in India.
No fee will be charged for WhatsApp Pay. Its information has been given by Facebook CEO Mark Zuckerberg himself. WhatsApp will work on Unified Payment Interface (UPI) system. Like it happens with Google Pay and Phone Pay.