WhatsApp Pay set for phased roll out in India; granted NPCI licence



In a major development, WhatsApp will be able to roll out its digital payment platform, WhatsApp Pay, across India after securing a key regulatory approval on Thursday.
“The National Payments Corporation of India (NPCI) has granted WhatsApp a licence to operate its digital payment service in a phased manner,” a Reserve Bank of India (RBI) executive told Business Standard on Friday. The official didn’t want to be quoted.
The NPCI’s approval came days after the RBI’s go-ahead. WhatsApp has assured the regulators that it will comply with the data localisation norms – a key factor behind the delay of the WhatsApp’s payment service launch.
In the first phase, WhatsApp will be able to offer payment services to 10 million users in India. “Pending other compliance points, the messaging platform will be able to do a full rollout,” the source said.
Once the company is able to do a full rollout, it will possibly be one of the biggest payments players in the country, given that the messaging service giant counts India as its biggest market with over 400 million users. Read More

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