WeChat Will Roll Out UPI Payment App In India Around May, Internal Sources Reveal

Dhir Acharya - Mar 23, 2019


WeChat Will Roll Out UPI Payment App In India Around May, Internal Sources Reveal

Right now, WeChat is working to obtain payments license from NPCI, short for National Payment Corporation of India.

Reports say that Tencent-owned messaging app WeChat is planning to roll out its payment system in India. Right now, the company is working to obtain payments license from NPCI, short for National Payment Corporation of India. It also has built partnerships with three banks in India, according to Entrackr’s report on Wednesday.

As revealed by NPCI’s internal sources, officials of Tencent and NPCI had a meeting three weeks ago to obtain a license to launch UPI (Unified Payment Interface)-based payment app in the country. WeChat will probably launch a separate app for this service, named the WeChat Pay. The three banks that it has partnered with include ICICI, HDFC, and Axis Bank.

Kết quả hình ảnh cho WeChat app

The two internal sources providing the information said:

Capture

The reported also suggested that the company is likely to launch its UPI-powered payment app by the end of May or June. Tencent is believed to be registering an Indian entity for its WeChat Pay app.

Kết quả hình ảnh cho UPI payment wechat

WeChat Pay is currently the most popular app for payments in China, just after the Alipay. Early last year, the number of active user on WeChat Pay crossed Aplipay’s 520 million too.

Just last week, Chinese phone maker Xiaomi officially rolled out its Mi Pay to the Indian market. The company built its app based on UPI and provides support for over 120 banks. Mi Pay is also deeply integrated with Xiaomi’s MIUI that it mostly used on its Android smartphones. With Mi Pay, Xiaomi smartphone users can make payments through contacts, messages, as well as other apps thanks to the deep integration.

Comments

Sort by Newest | Popular

Next Story

Read more

Should You Use an Online Casinos Website or App?

Review- Dec 08, 2022

Should You Use an Online Casinos Website or App?

You can play at online casinos today via an app or from a web browser, but which is better? Find out more right here.

Rules for an Online Casino, Welcome Bonus, No Deposit, and More

Review- Dec 08, 2022

Rules for an Online Casino, Welcome Bonus, No Deposit, and More