More WhatsApp customers will now be capable of make financial transactions through UPI because the nation’s cost authorisation physique on Wednesday permitted an extra six crore customers for the messaging platform.
“With this approval, WhatsApp will be able to expand the service to its 100 million (10 crore) users,” the National Payments Corporation of India (NPCI) stated, asserting the choice.
Unified Payments Interface (UPI) is a retail cost methodology through digital mode.
The NPCI is the umbrella organisation for working retail funds and settlement methods in India.
It has created a strong cost and settlement infrastructure within the nation and adjusted the way in which funds are made by way of a bouquet of retail cost merchandise comparable to RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC Fastag) and Bharat BillPay.
The NPCI is concentrated on bringing improvements in retail cost methods by way of using know-how. It is facilitating safe cost options with nationwide accessibility at a minimal price in furtherance of India’s aspiration to be a totally digital society.