After Waiting For Two Years, WhatsApp Pay Gets NPCI Nod To Go Live

After Waiting For Two Years, WhatsApp Pay Gets NPCI Nod To Go Live

SUMMARY

The payments authority said in a statement that the Facebook-owned messaging app can expand its UPI user base in a graded manner starting with a maximum registered user base of 20 Mn in UPI

WhatsApp has been embroiled in a slew of lawsuits in the country over the past one year due to which it hasn’t been able to launch its payments feature beyond the beta mode

NPCI’s clarification today comes after the Reserve Bank of India (RBI) informed the Supreme Court in August that it hasn’t yet granted permission to WhatsApp to go live with its payments functionalities

National Payments Corporation of India (NPCI) on Thursday (November 5) gave approval for WhatsApp to ‘Go Live’ on UPI in the muti-bank model.

The payments authority said in a statement that the Facebook-owned messaging app can expand its UPI user base in a graded manner starting with a maximum registered user base of 20 Mn in UPI.

WhatsApp has been embroiled in a slew of lawsuits in the country over the past one year due to which it hasn’t been able to launch its payments feature beyond the beta mode.

NPCI’s clarification today comes after the Reserve Bank of India (RBI) informed the Supreme Court in August that it hasn’t yet granted permission to WhatsApp to go live with its payments functionalities.

The central bank’s response to the apex court had come after NPCI had confirmed that WhatsApp Payments fulfilled the remaining three points on data-localisation norms for launching its payments service.

The Facebook-owned messaging app had informed the Supreme Court about its compliance in June. WhatsApp had also said that an independent third-party auditor certified by the central government’s cybersecurity firm CERT-in had confirmed WhatsApp Payments’ data localisation compliance. It also specified that it has spent a “significant engineering time and effort” over the last seven months to comply with the guidelines.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

After Waiting For Two Years, WhatsApp Pay Gets NPCI Nod To Go Live-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

After Waiting For Two Years, WhatsApp Pay Gets NPCI Nod To Go Live-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

After Waiting For Two Years, WhatsApp Pay Gets NPCI Nod To Go Live-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

After Waiting For Two Years, WhatsApp Pay Gets NPCI Nod To Go Live-Inc42 Media
After Waiting For Two Years, WhatsApp Pay Gets NPCI Nod To Go Live-Inc42 Media
You’re in Good company