Meta-owned WhatsApp is aiming to speed up the adoption of the Unified Payments Interface (UPI) for the next 500 million Indians.
The firm said, “Our users’ interface is simple, reliable as well as secure. It will speed up adoption of UPI for the next 500 million Indians.” The announcement comes after the National Payments Corporation of India (NPCI) has given a nod to WhatsApp for onboarding additional 60 million UPI users, taking the total number of consumers to 100 million consumers whom it can offer UPI. The National Payments Corporation of India has been giving approval to WhatsApp in a phased manner to avoid stifling the digital payment space in the country.
Manesh Mahatme, director for payment for WhatsApp India said, “We strongly believe there is an immense opportunity for UPI to have an even greater impact on the country, especially in remote areas where digital and financial inclusion can remarkably enhance the lives of people.” He further added, “The ‘payments on WhatsApp’ can be a key partner to NPCI and the Reserve Bank of India (RBI) as well endeavor to accelerate the adoption of UPI and financial inclusion to those most in need.”
