The National Payments Corporation of India (NPCD said in a statement on Friday that the recently launched WhatsApp Pay will have to abide by all of Unified Payments Interface’s (UPI’s) guide lines once its beta phase ends successfully NPCI’s statement assumes significance as it comes on the back of Paytm’s fo- under Vijay Shekhar Sharma accusing the umbrella body for all digital payments in the co- untry of having been arm-twis- ted by WhatsApp’s parent, Facebook, into making conces- sions for the messaging app.
NPCI said four banks will join the BHIM UPI model for WhatsApp Pay in the coming weeks and a full feature product shall be releasesd after the beta test ends.
data sove weeks and a full-feature pro- pressed his concerns, saying reignty too will be implemenduct shall be released after the that allowing a beta stage ted before fuillaunch.” beta ends.launch for 1 million users was Since the soft launch of A multi-bank system has tantamount to giving preferen- WhatsApp’s payments service advantages such as facilitating tial treatment to one player it had sparked multiple debate a transaction-load distribution over another. over the impact that it will ha between banks as well as integ- The NPCI statement on Fri- on incumbents like Paytm. rating popular apps with day said, “Broad principles for Sharma’s latest tweet BHIMUPI.
interoperability like ability to NPCI was followed by an of TOI reported in its Februa send and receive money thro- al statement from a com ry 15 edition that NPCI had as ugh any BHIM UPI ID, intent spokesperson who said ked WhatsApp to roll out its pa and collect callandreadandge welcomed the NPCI state yments services to only 1% of nerate BHIM/Bharat QR code on issues raised but the its users in the current beta sta- are required in final BHIMUPI had multiple concerns ge. Paytm’s Sharma had ex- app. BHIM UPI-enabled app matter.