WhatsApp Is Going Live With Its Digital Payment Service In India Soon

It is believed that the messaging platform WhatsApp will soon launch its digital wallet feature. Recently, there was a claim that the company had established data storage facilities in India to provide Indian users with a more convenient payment method. The company has rolled out the beta-test for its payments service within a limited user base. 

According to a Times of India report last April, WhatsApp had already started going through with a third-party audit for the localization process. And now, it was reported that this firm had finished the essential work for data localization. Later, when the report is submitted to the regulator and being approved, WhatsApp will officially launch its digital payment service. According to a report on The Economic Times:

Since WhatsApp users make up a large part in India, the new payment method of this messaging platform will surely make life much easier. The company will soon go live with its UPI-based digital payment platform in partnership with ICICI Bank. In addition, it also plans to integrate its services with some other leading banks including HDFC Bank, Axis Bank, and State Bank of India, according to The Economic Times. 

In 2018, Reserve Bank of India had required WhatsApp to shift its data centers which store local users' financial information and transaction data to India. Then, the company will have to get a third-party audit done by CERT-IN-empanelled auditors. 

Earlier, WhatsApp had partnered with ICICI Bank to launch its digital payment service once, but it failed because of the lack of data localization. However, as its representative stated, this time was different, and the problem of localization had been solved.