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WhatsApp Pay gets green signal from NPCI - UPI Payments by WhatsApp

WhatsApp has been testing its UPI for over two years but the development was delayed due to privacy concerns. National Payments Corporation of India (NPCI), now grants a green signal for WhatsApp to ‘Go Live’ on UPI in the multi-bank model. After fulfilling the data localisation requirements issued by Reserve Bank of India. Earlier this day, WhatsApp rolled out Disappearing Messages feature.

WhatsApp can go live on the UPI in a graded manner, NPCI said. Being in the initial phase, it can only expand its payments user base to 20 million maximum, according to NPCI. Unfortunately, WhatsApp has about 400 million users in India.

ICICI Bank will be WhatsApp partner bank to provide UPI services. Unlike, other famous UPI apps like Google Pay and PhonePe have 2 or more banking partners.

This announcement was made forthright after NCPI said that with "UPI reaching 2 billion transactions a month and with potential for future growth, it has issued a cap of 30% of the total volume of transactions processed in UPI, applicable on all Third-Party App Providers (TPAPs)."

Finally, the queue has been after two years of delay for WhatsApp Pay.