WhatsApp Pay gets a green signal from NPCI

WhatsApp Pay is soon to be launched in India. As per reports WhatsApp Pay has received a green signal from National Payments Corporation of India (NPCI) following the approval from Reserve Bank of India (RBI). So far whatsapp has struggled to get regulatory approval from the government due to the issues with data localization. But now whatspp has complied with governments requirements to store all the data within India. WhatsApp Pay will run on Unified Payments Interface (UPI) platform, which allows bank acount holders to send and receive money electronically without entering their internet banking user ID or password. Currently this app platform is also used by GooglePay, Paytm and PhonePe. WhatsApp Pay rollout will take place in phases apparently due to its large number of users in India. The first phase will involve over 10 million users in India. New users can sign up on WhatsApp Pay as of now, but the sign-up period is limited and is expected to close off before re-opening after a period of time.