WhatsApp Pay in India was possible because of UPI system, says Facebook s Zuckerberg Indians can communicate with one another for less than the cost of a postcard and that s what we ve tried to do with messaging and hopefully we can do that together with payments, Zuckerberg said.
India Today Tech | December 15, 2020 | Updated 18:09 IST
(Picture: Reuters)
Highlights
WhatsApp Pay started rolling out for Indian users in November in partnership with the National Payment Corporation of India (NPCI).
Facebook CEO Zuckerberg said that it was only possible because of the unified payment interface (UPI) system and 140 banks that made it easy.
WhatsApp has refuted allegations of the payment system not being secure in the Supreme Court.
NEW DELHI: The Supreme Court on Monday asked National Payment Corporation of India (NPCI) to file an affidavit explaining how WhatsApp was granted licence to commence app-based UPI payment services after RBI informed the court that NPCI was the owner and operator of UPI system.
Responding to a petition filed by CPI Rajya Sabha member Binoy Viswam, the RBI in its affidavit said, NPCI introduced multibank model under UPI on September 15, 2017, wherein a large merchant/technology player, referred to as Third Party App Provider (TPAP), having access to a large customer base, can connect to the UPI system operated by the NPCI through multiple Payment Service Provider banks.