Over one million users are “testing” the new WhatsApp payment feature in India.
A spokesperson for WhatsApp stated that the App owned by Facebook is working closely with bank partners, National Payments Corporation of India (NPCI) and also the Indian government on the entire payments process. The NPCI has granted WhatsApp permission to help aid financial transaction with banks via Unified Payments Interface (UPI). The spokesperson further added, “We still do not have a launch date but this terms and policy update brings us one step closer to full launch.”
Paytm, one of the company’s competitors has been in beta testing for the last few months and industry watchers expect the company to launch the full service in the next few weeks
WhatsApp spokesperson said that “We’ve added new features like interoperability that requests additional information from users of WhatsApp payments and of any BHIM UPI-enabled app.” WhatsApp collects the information of when a user sends, receive or request a payment. The date time and reference number of the transition are also collected.
WhatsApp takes “All the information we have to operate, provide, improve, understand, customize, support, and market our services”. The spokesperson added, “This includes using the information to provide payments and customer support, to protect you and others using our services from fraud, abuse, or other misconduct, and to review your account activity….. to determine whether you continue to meet our Service Terms and Payments Terms.”