WhatsApp has been testing its payment service ‘WhatsApp Pay’ in India for over two years. However, the service has never been officially launched in India. After Two years of wait, WhatsApp Pay is set to launch it by end of this month.
WhatsApp will expand its WhatsApp Pay in India like other digital apps.
Reported by Money Control, The development comes after Facebook got approval from the Nation Payments Corporation of India to launch the WhatsApp Pay service in India.
WhatsApp payment service was launch with support of three main banks that include ICICI Bank, Axis Bank, and HDFC Bank.
The report further states that the State Bank of India (SBI) is one of the partners in WhatsApp Pay. The payment service supports UPI enabled banks.
Reserve Bank of India’s data localization policy, which is the main reason behind the delay in launch.
India is the first country where WhatsApp will run the service.
Only available to WhatsApp beta users and this UPI payment service integrated into the messaging service, so users can pay anyone without leaving the app.
It is expected to start offer loan to user’s in India. However, we do not know whether this will happen at all.
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