WhatsApp Fuels Mobile Payments Efforts

Since WhatsApp began testing its payments feature in February of last year in India, it has processed about a million transactions a month, according to people close to the National Payments Corporation of India (NPCI), the umbrella organization for all payments and settlements companies. WhatsApp Pay, which is facilitated by the Indian government’s secure UPI payments system, transfers funds directly between users’ bank accounts, in real time.

For the Facebook-owned WhatsApp, the payments trial in India is the first step towards tapping a hugely valuable new channel of data: how people are spending their money. Source.

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