Topics
Latest
AI
Amazon
Image Credits:Dhiraj Singh / Bloomberg / Getty Images
Apps
Biotech & Health
Climate
Image Credits:Dhiraj Singh / Bloomberg / Getty Images
Cloud Computing
DoC
Crypto
endeavour
EVs
Fintech
fund-raise
Gadgets
punt
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
privateness
Robotics
Security
Social
quad
Startups
TikTok
Transportation
speculation
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
newssheet
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
India has remove restrictions on WhatsApp ’s payments service in a important triumph for Meta in its largest grocery by users as the social sensitive titan seek to compete with entrenched fintech rivals .
The National Payments Corporation of India ( NPCI ) , the payments body overseeing the popular clamant defrayal rail called UPI , say Tuesday that WhatsApp can now roll out WhatsApp Pay to all its users in the securities industry . WhatsApp has more than 500 million users in India .
The determination liftsthe previous 100 million drug user chapiter on WhatsApp Pay . The move signals a geological fault in the regulator ’s cautious overture to WhatsApp ’s payments dream .
The NPCI , which reports to India ’s cardinal bank , previously assert on a gradual rollout , first limiting the service to 40 million users in 2020 before launch the cap to 100 million in 2022 .
WhatsApp ’s expansion comes as India ’s UPI program , which treat more than 13 billion dealing monthly , is wrestling with market concentration concerns . Google Pay and Walmart - backed PhonePe presently hold more than 85 % of UPI transactions .
On Tuesday , the NPCIonce again push back a proposition to implement a 30 % capon any individual app ’s contribution of transactions on the UPI web . The NPCI said the formula will now not go into effect for two years — until December 31 , 2026 .
“ We ’re committed to making defrayment on WhatsApp simple , reliable , and secure , ” a WhatsApp spokesperson said in a statement sent to TechCrunch via the app .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
“ Our goal is to add value and convenience to users ’ lives through various role - cases like bill defrayment , ticket engagement , and shopping . We aim to speed digital defrayment and UPI adoption and stay on impart to India ’s digital and financial inclusion docket . ”
