The National Payments Corporation of India has given approval to WhatsApp to extend its payments service to 100 million users in the South Asian market.
The National Payments Corporation of India has given approval to WhatsApp to extend its payments service to 100 million users in the South Asian market.
They are purposely delaying the rollout to the entire 400+ million subscriber base coz they fear that it will cause a market disruption if there is mass adoption of it for UPI payments. Currently the market is dominated by PhonePe and Google pay.
But PhonePe is cornering around 49% market share and needs to bring it down to under 30% by end of 2022 as per NPCI guidelines. So WhatsApp pay will help balance out this market share imbalance.
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