WhatsApp’s UPI based payment service to be launched very soon in India

WhatsApp’s UPI based payment service

The payments in India has been digitized for the past couple of years. The apps such as Paytm is already being used very extensively across the country. In the past couple of months, we have seen several firms including Amazon launching their own wallets in India. To be on par with these apps, the Facebook-owned WhatsApp might add the support for the UPI based payments very soon in India.

According to a report on Economic Times, this integration is going to be added in collaboration with State Bank of India BSE 2.08 %, ICICI BankBSE 2.15 %, HDFC BankBSE 1.00 % and Axis BankBSE 1.12 %.

A spokesperson who didn’t want to be identified said, “The platform is already in beta stage (testing) with one of its partner banks. We expect the product to go live for consumers by the end of February, depending on how the trials work out.”

A banker has also confirmed the same and has said that this development is at various stages of system integration with the banks. According to the banker, the banks are doing various security checks to ensure the safety of data.

Back in the month of July last year, the WhatsApp received the approval from the government to introduce the UPI in their apps. Though the introduction of payments in WhatsApp is going to be added very lately, there is a very big hype surrounding the application, all thanks to the popularity of the messaging app across the various cultures in the country.

However, the bankers are of the opinion that several factors especially the one in regard to the data of the bank have to be considered before rolling out to the users finally. Today, the company has also officially launched a dedicated WhatsApp Business app for Android users to let the small businesses to get the exposure they need via the WhatsApp.

What are your views on the introduction of UPI based payments in the WhatsApp? Share us them in the comments section below.

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About the Author: Derin J Tom

A homosapien in the pursuit of lending this cosmic world a small contribution of my supersonic dumb thoughts through words.

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