WhatsApp launches money transfer service in India

News Wireless India 19 FEB 2018
WhatsApp launches money transfer service in India
WhatsApp has launched a “full feature” inter-bank money transfer service in India. The launch follows a trial period involving a million users, Reuters reports, citing a statement from the National Payments Corp of India. The statement marks the official launch of WhatsApp’s new service as NPCI is the body set up by the central bank and lenders to oversee payment services.

WhatsApp launched a limited service in India, involving more than 200 million users, last week. The service uses customers’ phone numbers linked to bank accounts to enable payments. Four banks will join United Payments Interface (UPI), which powers the payments service. ICICI Bank currently processes the fund transfers on WhatsApp.

Categories:

Mobile

Companies:

WhatsApp

Countries:

India

Tags:

e-Payment, Launch

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