Synopsis
In August 2016, the National Payments Corporation of India’s UPI went live. In just over three years, it was clocking over 2 billion transactions a month. NPCI’s Bharat Bill Payment System is on a similar trajectory, with close to 19,000 registered billers and counting. This could be the beginning of the next big disruption in India’s payments ecosystem.
India’s digital-payments industry is seeing a lot of action. If the United Payments Interface (UPI) clocking over 2.3 billion transactions in a month isn’t enough, the Reserve Bank of India’s equally successful and more complex initiative, the Bharat Bill Payment System (BBPS), signals the silent revolution under way in India’s digital-payments ecosystem. BBPS, like UPI and RuPay, was also developed under the aegis of the National Payments
WhatsApp Asked by Supreme Court to Reply on Petition for Non Sharing of UPI Data With Facebook, Third Parties
WhatsApp Asked by Supreme Court to Reply on Petition for Non-Sharing of UPI Data With Facebook, Third Parties
WhatsApp Pay has received all necessary permissions, said senior advocate Kapil Sibal appearing for the instant messaging platform. By PTI | Updated: 1 February 2021 16:55 IST
Till date Facebook and WhatsApp have not filed a counter-affidavit
Highlights
It denied allegations of being affected by Israeli sypware Pegasus
RBI representative said company has filed its reply with the top court
The Supreme Court Monday asked instant messaging app WhatsApp to file response on a plea seeking a direction to the RBI and the NPCI to ensure that data collected on Unified Payments Interface (UPI) platforms is not shared with their parent company or any other third party under any circumstances.
A view of the Supreme Court of India. File
| Photo Credit: Shanker Chakravarty
Several interlocutory applications have been filed in the plea which also seek direction for framing regulation to ensure that data collected on UPI platforms is not “exploited” or used in any manner other than for processing payments.
The Supreme Court on Monday asked instant messaging app WhatsApp to file response on a plea seeking a direction to the RBI and the National Payments Corporation of India (NPCI) to ensure that data collected on Unified Payments Interface (UPI) platforms is not shared with their parent company or any other third party under any circumstances.