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Wireless

WhatsApp takes on mobile money market with launch in India

Tuesday 27 February 2018 | 16:33 CET | Author: Marion ter Welle | Background
WhatsApp has launched a "full feature" inter-bank money transfer service in India. The launch follows a short trial period involving a million users. The service uses customers' phone numbers linked to bank accounts to enable payments. Several banks have joined the United Payments Interface (UPI), which powers the payments service, and ICICI Bank processes the fund transfers on WhatsApp. The new service will face competition from established mobile money players such as Paytm and Mobikwik. 

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Categories: Mobile & Wireless
Companies: Facebook / Google / Samsung / WhatsApp
Countries: India
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