WhatsApp Pay, a Unified Payment Interface (UPI)-powered payment service, is now available to all Indians. Previously, this feature was restricted to a select group of users due to limitations imposed by the National Payments Corporation of India (NPCI). However, with the NPCI lifting these limitations, WhatsApp Pay can now cater to the entire Indian user base.
For the last two years, WhatsApp Pay had a cap of 100 million users to monitor security and performance issues. The NPCI has now announced that WhatsApp can onboard all of its Indian users for the payment service.
WhatsApp Pay: What is it?
WhatsApp Pay allows users to send and receive money to their contacts seamlessly within the app. Users can send money requests or transfer funds directly to other UPI application users, including popular platforms like Google Pay, PhonePe, and Paytm. This integration makes transactions easier, allowing users to handle their financial exchanges without leaving the chat interface.
In a significant development, the NPCI has also delayed the implementation of the 30% UPI market share cap for all players by two years. This means that platforms like Google Pay, PhonePe, Paytm, and others cannot exceed 30% of the UPI market share, ensuring a balanced and competitive environment.
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As WhatsApp Pay rolls out its services to all Indian users, it promises to revolutionize the way we handle transactions, making it as easy as sending a message. Embrace the change and enjoy the convenience of digital payments right at your fingertips!
