The National Payments Corporation of India (NPCI) has agreed to increase the user limit for WhatsApp’s payment service from 20 million to 40 million, which has intensified competition in the Indian digital payments sector.
Earlier this month, WhatsApp announced that it was trying to increase the number of its users to more than 20 million. WhatsApp also said that NPCI would consider its request. As NPCI will gradually expand, the payment system will not be too burdensome.
In India’s digital payment market, WhatsApp competes with Alphabet Inc’s Google Pay, SoftBank and Ant Group support Paytm, and Walmart’s PhonePe. In November last year, the National Payments Corporation of India (NPCI), which regulates retail payment and settlement systems in the country, approved WhatsApp to provide payment services to 20 million users.
WhatsApp has the largest user base in India. Meta-owned WhatsApp also raised fears that it could disrupt the payment market.
Read, WHO: New mutation of coronavirus is dangerous! But a travel ban is not necessary on yourcoimbatore.com
What's Your Reaction?
Team YourCoimbatore.com brings you the latest news from in and around Coimbatore. If you want to write about Coimbatore please get in touch.