WhatsApp set to integrate Payments Feature

Terry Joseph
July 12, 2017

Google is in advanced talks with NPCI to integrate its digital payment service, Android Pay, with UPI. For all retail payments system in India, NPCI has the umbrella organization.

He stated, "Google is testing UPI-enabled payments". Some of the banks WhatsApp is in talks are Axis Bank, ICICI Bank, Punjab National Bank among others.

Facebook and WhatsApp are the large players.... Around 10 million UPI transactions were reported in June against 2 million in December last, data from the Reserve Bank of India shows.

So, while Google isn't alone - with Facebook, Amazon, Uber, and Whatsapp also in the fray - it might beat them to be the first to launch a UPI-based payment system.

If you're an avid Uber user, keep a lookout for the official announcement by Uber, integrating UPI on their app. Basically, it allows users to make contactless payments using their smartphone at selected retailers. Google Android Pay is similar to Apple Pay and Samsung Pay and could boost service If UPI is included in it. "They will have to look whether there are any risks other than the technical aspect", says, A P Hota. In an aim to make India a cashless economy, Prime Minister Narendra Modi launched the BHIM (Bharat Interface for Money) app for the Unified Payment Interface (UPI). Besides that, Facebook announced peer-to-peer payments on its Messenger app back in 2015.

Hota, Chairperson, National Payments Corporation of India (NPCI) said that Google has finished testing its UPI system and is now waiting for the Reserve Bank of India (RBI) to give its nod for the services to begin. Flipkart and some other ecommerce companies have already started accepting UPI payments.

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Uber's rival in India, Ola has already added support for UPI. He added that Amazon was currentl testing for the same, while Uber is still conducting the process. As a first step, we will look at offering our riders the option to use their existing UPI IDs to pay for their Uber rides. Including Truecaller, Phone, and Chiller, there are 16 such big fin-tech companies. "UPI is the future of Indian payments and we are proud to be a partner in this monumental mission of the government to facilitate a digital payments led society".

If transactions do not accelerate in the next few months and the banks do not market the product, there is a real danger that the government's annual goal will be missed by a wide margin. It will not be launching its own app despite it will be using UPI on its portal for payment.

According to reports, NPCI has given a nod to WhatsApp to enable app payments. The world's largest cross-platform instant messaging app, which has more than 200 million active users in India, is expected to launch its service later this year.

"The nation has taken a target of achieving 25 billion digital payments transactions mark in 2017-18".

As per Hota, last year, the volume of digital payments was 9.2 Bn of which 3.5 Bn had been contributed by the NPCI.

Other reports by Free-Prsite

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