WhatsApp plans to launch WhatsApp Pay UPI payments service in India later this year

WhatsApp is gearing up to introduce WhatsApp Pay UPI payments service to all users across India later this year. WhatsApp Global He Will Cathcart said Facebook-owned instant messenger could roll out its full-fledged payments service in India later this year.

However, Cathcart did t reveal any approximate launch timeline. Last year, WhatsApp anunced its Payment feature in India and currently, WhatsApp has been testing WhatsApp Payments feature with about one million users across country.

Despite launching a test run of WhatsApp Payments a year ago, WhatsApp could t get approval from Reserve Bank of India (RBI) on grounds of digital payments framework guidelines. But apparently, WhatsApp Pay is w in final st. Commenting on development, WhatsApp's Global he Will Cathcart h this to say:

"We believe that if we get this right, it will accelerate financial inclusion and bring value for people in India's fast-growing digital ecomy, We can't wait to provide service more of our users all across India later this year."

RE | How to share your WhatsApp status updates to Facebook stories, Twitter, Instagram and or apps

unified payments interface (UPI) is backbone of WhatsApp Pay and once it goes live for all WhatsApp users across country, WhatsApp would compete against likes of Google Pay, PhonePe, Paytm and or UPI-enabled payment platforms.

WhatsApp has 1.5 billion users globally whereas in India, about 400 million users use WhatsApp as a platform to communicate with ir friends, colleagues and family members.

In past, WhatsApp Payments has been subject to concerns around its auntication as well as data stor practices. Last year, however, WhatsApp h said it has developed a system to store payments-related data in India as part of compliance with Reserve Bank of India's data localisation policies.

In May, WhatsApp told Supreme Court of India that trial run of WhatsApp Payments feature is likely to b completed by July. WhatsApp h promised that it will launch WhatsApp's UPI payments service in India without full compliance with Reserve Bank of India's policies.

RBI, last month, h clarified that all data related to payments, including those processed abro, must be stored only in India. Also, in case payment processing is done abro, data should be deleted from systems re and brought back to India within 24 hours, it h stated.

(With ncy inputs)