WhatsApp gets approval to hike users to 100 mn for payments service in India, says report  

WhatsApp seems to have got regulatory approval to increase users by more than double for its payments service to 100 million in India, a Reuters report said citing sources on Wednesday.  

On Wednesday, the National Payments Corporation of India (NPCI) seems to have told the Meta Platforms Inc’s company that it can hike the users to 100 million, the sources said.   

Presently, there are 40 million users. In a statement to Reuters, the NPCI has confirmed the development.  

Also Read: 600-year-old Hindu deity idols worth millions seized in India’s Puducherry 

This approval from the NPCI is sure to come as a relief to the company, which has more than 500 million users in India. 

In 2020, the NPCI had given approval to WhatsApp for launching the payments service. The company has made concerted efforts to comply with Indian regulations. These include data storage norms requiring all payments-related data to be stored locally.  

Watch: WION Exclusive: Fourth consecutive G7 invite for India since 2019

The firm had started with 20 million users. In November last year, the limit was raised to 40 million.  

In India’s digital payment market, Paytm, Walmart’s PhonePe and Alphabet Inc’s Google Pay are other big players.  

India has witnessed a huge rise in the online transactions, e-wallet and lending services in the recent years.   

(With inputs from agencies) 

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Eid-ul-Fitr moon sighting highlights: Saudi Arabia, India may mark Eid same day

Eid-ul-Fitr 2022 moon sighting highlights: There is a wafer-thin chance that Muslims…

As Washington ramps up efforts to bring India on board with sanctions against Russia, U.S. treasury official on visit to Mumbai and Delhi

U.S. Assistant Secretary to discuss Russian oil purchases by India, rupee-rouble trade…

सड़क, रेल, 5G… अरुणाचल बॉर्डर से सटे तिब्‍बत में क्‍या-क्‍या गुल खिला रहा चीन, सेना ने सब बताया

Edited by दीपक वर्मा | भाषा | Updated: May 17, 2022, 1:08…

India Shelves ₹35,000 Cr Plan To Upgrade Su-30 Fighter Fleet Amid Russia-ukraine War | Mint

NEW DELHI : Several factors have shelved the Indian Air Force’s plan…