Founder of Facebook, Mark Zuckerberg had a talk with analysts. Zuckerberg said, we are still testing the app in India and it really shows that a lot of people and merchants in India will use the app after it is officially launched.
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WhatsApp Pay to Be Launched Soon In India
WhatsApp Pay is a peer-to-peer, UPI-based service and will reach over 400 million users which will include small and medium-sized businesses to improve digital mode of payment.The Indian government and the Indian reserve bank had outlined their issues and some features of whatsApp in compliance with the regulations.
Previously, whatsApp developed an internal system for storing payment-related information to comply with RBI data localization requirements but an affidavit submitted to a Supreme court in India, RBI said that whatsApp payments have not yet complied with its data localization rules.
Ravi Shankar Prasad, India's Telecom Minister said that if whatsapp complies with legal regulations from the RBI and the National Payment Corporation of India (NPCI) then there it can continue its operations in India.
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