WhatsApp, Google, Uber, Amazon to bring UPI-based payments: report

Major online players Google and Facebook-owned WhatsApp are reportedly preparing to bring UPI-based payments services to their platforms.

According to reports, Facebook-owned WhatsApp has already been granted permission by the National Payment Corporation of India (NCPI) to incorporate mobile payment service within the app using Unified Payment Interface (UPI) -- an interface introduced by former governor of Reserve Bank of India Raghuram Rajan in 2016 to allow settle funds between two bank accounts on a mobile platform. WhatsApp had been in talks with State Bank of India (SBI), Axis Bank, ICICI Bank, Punjab National Bank and more to fast track the process of integrating person-to-person (P2P) payment service on the app.

On the other hand, Google has also put the request to integrate UPI within firm’s mobile wallet app Android Pay and is now waiting for an approval from the RBI. “Quite likely Google would come first, because their testing is more or less complete. We have written to RBI seeking approval just two or three days back,” NPCI MD & CEO A P Hota told reporters, according to PTI.

Additionally, online merchants Amazon and Uber are also said to allow customers make payments using UPI. “Amazon was currently testing for the same, while Uber is still conducting the process,” Hota told reporters.

A report by The Ken in early April claimed that WhatsApp is working on launching P2P payment through UPI on its app within next six months in India. However, Hota did not reveal a timeline as by when any of these players will live the service on their individual platforms.