whatsapp pay

• WhatsApp has won regulatory approval to double the number of users on its payments service in India to 40 million, a source with direct knowledge told news agency Reuters on Friday.
• Instead, the National Payments Corporation of India this week told the company it could double the user base to which it can offer its payment service – currently restricted to 20 million – the source said.
• The NPCI gave WhatsApp approval to start its payments service last year after the company spent years trying to comply with Centre’s regulations, including data storage norms that require all payments-related data to be stored locally.

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• Instant messaging platform WhatsApp is pushing for the user cap on its payment service to be increased beyond the current 20 million.
• The National Payments Corporation of India, which operates the country’s retail payment and settlement systems, had allowed WhatsApp to start payment services in November last year with a cap of 20 million users.
• WhatsApp India’s director of payments Manesh Mahatme said in September that it is scaling up the service in phases in partnership with NPCI. Mahatme said the focus will be on accelerating marketing initiatives to increase awareness of the payments feature on the instant messaging app.

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• A code found in the latest WhatsApp 2.21.23.10 beta version hints at Novi integration, which will enable global payment transfers, according to XDA Developers.
• The integration of this service would let WhatsApp users send or receive money globally through the Novi digital wallet.
• The company is already running a small pilot of a Novi digital wallet in the US and Guatemala.

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