WhatsApp Payments Service to Be Launched in Few Weeks After 1 Million Users Complete Testing

By June 18th, 2018 AT 4:01 PM

WhatsApp’s newly launched payment services are being tested by over one million users in India. The Facebook-owned company is working hand in hand with numerous banks, the government and the NPCI to expand its payment operations in the country. The UPI based payment service which will come with the addition of chatting and social media will be in direct competition with the apps like Google Tez and Paytm. The service had been in beta testing for quite some time now, however, now the industry insiders suggest that the full-fledged launch of the service might not be farther away than a few weeks.

whatsapp-payment-service-launch

An official WhatsApp spokesperson said to PTI “Today, almost one million people are testing WhatsApp payments in India. The feedback has been very positive, and people enjoy the convenience of sending money as simple and securely as sending messages.”

Further, the spokesperson added that the company had already obtained permission from the National Payments Corporation of India (NPCI) for tying up with the banks and payment service providers to extend the services to more and more users in the country. To facilitate payments, WhatsApp is going to use the Unified Payments Interface (UPI).

However, initially, WhatsApp had to face some troubles while stepping in the Indian market. Paytm founder Vijay Shekhar Sharma also went on the offence to tell that WhatsApp’s payment services were not secure for the users. On the other hand, the Reserve Bank of India mandated that all payment related data of the users should remain inside the country and gave a six-month time window to the tech giant for compliance.

After that, the sources notified that the ministry of electronics and IT asked the NPCI to make sure that the company was following the regulations set by the RBI and that no data breach was happening.

WhatsApp said in response that sensitive data like last 6 digits of cards, or UPI pins are not even stored by the messaging service. Also, it highlighted that payment information is not used for commercial purposes even though WhatsApp uses Facebook’s infrastructure to make run its operations.

The spokesperson said, “Facebook processes UPI transaction data as a service provider for WhatsApp, and does not use WhatsApp payments transaction data for commercial purposes.”

The heavy regulatory measures come after the social media giant, Facebook, was caught for the leak of 87 million users’ data in the Cambridge Analytica scandal. In times like this, it is obvious that the authorities are worried for the users’ data security and privacy.

Read more on:

Arpit spends his day closely following the telecom and tech industry. A music connoisseur and a night owl, he also takes a deep interest in the Indian technology start-up scene and spends rest of his time spilling poetry and stories on paper.

3
Leave a Reply

avatar
Photo and Image Files
 
 
 
3 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
3 Comment authors
SumanthGirish Gowda | bengaLuruchandu Recent comment authors
newest oldest most voted
Sumanth
Sumanth

The thing with this….from what I have used….it works well.

Girish Gowda | bengaLuru
Girish Gowda | bengaLuru

If you believe them, I have some dragon eggs to sell you.

Recent Posts

Poco F1 Gets Game Turbo Mode Along With Rs 2,000 Temporary Discount on 128GB Storage Variant

Xiaomi sub-brand Poco launched its first smartphone aka Poco F1 last year. The Poco F1 has received a massive response...

Vodafone Prepaid Users Can Avail 50% Discount on Amazon Prime Membership: Here’s How

Vodafone is known for its unique offerings in the industry. The UK-based telco has a unique offering under its sleeves...

Dish TV Introduces All in One Plans for Subscribers, Bundles Special Cricket Service

Dish TV, India’s largest single-country DTH provider has listed new plans for winning back its customers. To recall, the service...