WhatsApp may launch a peer-to-peer payment system in India and is likely to be powered by the Unified Payments Interface (UPI).
India’s most popular messenger service announced that it had crossed 200 million monthly active users in India and a payment system integrated into the app would be a significant update and could open up new use cases.
The company has about 1.2 billion active users across the globe.
UPI is an inter-bank payment protocol that enables instant payment from any account to another account, using any allowed authentication credential, for a specific transaction context.
Currently, UPI is enabled on smartphones (PSP and BHIM apps) and feature phones (*99# Unstructured Supplementary Service Data) for transferring money instantly from bank account to any other bank account. This is where WhatApp plans to plug its payment system.
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1 thought on “WhatsApp all set to launch P2P payment services in India?”
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