More WhatsApp users can now make money transfers through UPI as the country’s payment authorization body approved a further six crore users for the messaging platform on Wednesday.
“With this approval, WhatsApp will be able to expand the service to its 100 million (10 crore) users,” the National Payments Corporation of India (NPCI) said in announcing the decision.
Unified Payments Interface (UPI) is a retail payment method via digital mode.
The NPCI is the umbrella organization for operating retail payments and settlement systems in India.
It has created a robust payment and settlement infrastructure in the country and changed the way payments are made through a range of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (OHIM) , OHIM Aadhaar, National Electronic Toll Collection (NETC Fastag), and Bharat BillPay.
The NPCI aims to bring innovations to retail payment systems through the use of technology. It facilitates secure payment solutions with nationwide accessibility at minimal cost to further India’s aspiration to be a fully digital society.