WhatsApp payment feature to debut soon, undergoing testing by 1 million Indians
Amidst the wave of several tech companies venturing into the business of providing online payment services, Facebook-owned WhatsApp is no exception. We have been getting updates about WhatsApp's development and testing of the upcoming payment feature and now, reports suggest that the much-hyped functionality is not too far.
Reportedly, WhatsApp is eyeing to launch its online payment feature in the coming few weeks and over a million Indians are already testing the technology. It is a UPI based payment service which will have added feature of chatting and will be connected with social media platforms. The service undergoing testing is a beta version and the complete application will be rolled out publically shortly.
Owing to Facebook's recent involvement in the scandal of supplying user data to Cambridge Analytica, WhatsApp has also been facing a lot of constraints in its way of implementing the online payment project. The Reserve Bank of India has made it a compulsion for all the companies which provide online payment services that the user data related to payment shall stay within the country. The online messenger was also inspected by NPCI (National Payments Corporation of India) in order to make sure WhatsApp is adhering to all the regulations imposed by RBI.
Now, reports suggest that the company, by satisfying the requirements, have acquired all the permissions from NCPI to collaborate with Banks in India and payment service providers which led to the beta version being eligible for testing. WhatsApp assured that the bank card numbers and UPI pins aren't saved internally by the messenger and the payment information is not used for any commercial purpose.
WhatsApp, being one of the most popular messaging apps, is expected to provide hassle-free and reliable online payment services which will make it compete against similar platforms such as Paytm and Tez by Google.
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