More WhatsApp users will now be able to make monetary transactions via UPI as the country’s payment authorisation body on Wednesday approved an additional six crore users for the messaging platform.
“With this approval, WhatsApp will be able to expand the service to its 100 million (10 crore) users,” the National Payments Corporation of India (NPCI) said, announcing the decision.
Unified Payments Interface (UPI) is a retail payment method via digital mode.
The NPCI is the umbrella organisation for operating retail payments and settlement systems in India.
It has created a robust payment and settlement infrastructure in the country and changed the way payments are made through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC Fastag) and Bharat BillPay.
The NPCI is focused on bringing innovations in retail payment systems through the use of technology. It is facilitating secure payment solutions with nationwide accessibility at a minimal cost in furtherance of India’s aspiration to be a fully digital society.