WhatsApp CEO seeks formal approval from RBI to roll out payments feature for all

WhatsApp

It seems that WhatsApp is in the final leg to launch its payments feature for all users in India as the company’s CEO has written to RBI seeking formal approval for the mass roll-out of the payments feature.

Running on UPI railroad, WhatsApp Pay is currently available for around 1 million users as a part of the Facebook-owned company’s beta launch. The testing phase has also crossed a 6-8 months period in which WhatsApp had complied with regulators diktat of enabling local server and appointing local grievance officer.

Chris Daniels in his letter said that the company is eyeing an opportunity to offer a useful and secure service that can improve the lives of Indian people through digital empowerment and financial inclusion.

Along with Daniels, WhatsApp’s partner banks have also submitted a request for formal approval.

According to the company’s spokesperson, the platform is working closely with the Indian government, National Payments Corporation of India (NPCI), and multiple banks, including payment service providers to expand its payments feature for the masses, reports ET.

Besides payments, WhatsApp is also considering launching an advertisement feature in status that will be its first monetising model in India and across the world.

While WhatsApp has been facing hurdles from several ministries right from the beginning of payments beta launch, hiring Komal Lahiri as grievance officer, Abhijeet Bose as country’s head and setting up local data servers likely to bring positive news for it.

Of late, WhatsApp chief business officer Neeraj Arora put in his papers after serving seven years in the company.

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here