WhatsApp Wrote To RBI, Requesting To Expand Its Payment Service To All Users In India

Indira Datta - Dec 05, 2018

WhatsApp Wrote To RBI, Requesting To Expand Its Payment Service To All Users In India

WhatsApp's director, Chris Daniels, sent a letter to the RBI asking for formal acceptance of the payment to all 200 million users across India.

Two years ago, WhatsApp started its first discussion with the Indian government and sought permission to introduce its payment service to the market. Now, months after its test obtained almost one million users, the company is still waiting for a nod for the government.

It is known that the WhatsApp messaging application is reviewing and adjusting its payment service. WhatsApp's director, Chris Daniels, sent a letter to the RBI asking for formal acceptance of the payment to all 200 million users across India.

WhatsApp new development comes close after Google, which is ahead in making payment offerings.

In the letter, Daniels requested that the RBI immediately approve WhatsApp's payment product, BHIM UPI (Unified Payments Interface), for all users in India. Daniels said the payment service aims to give the company a chance to bring convenience to its users and enhance the digital empowerment regarding both technology and finance.

The company's correspondent banks also filed the same request on November 5.

WhatsApp spokesperson said when asked, the company is now working with the government of India, the National Payment Corporation of India (NPCI) and its counterparts to look into the expansion of this service to more people in the country. This contributes to expanding the country's digital economy and Indian lives.

According to WhatsApp, the platform service has used by nearly 1 million people in India. Almost everyone has very positive feedback and is happy with the convenience and security of sending money through this platform, quickly and just as same as sending a message.

Right after the RBI issued a directive drafting new billing data store directives in April this year, WhatsApp said it immediately focused on ensuring payment data which is stored in India. The letter also mentions that the BRI has unlimited access and control over the company's billing data by the RBI circular.

To avoid scandals, WhatsApp has also emphasized that they want an equal business circle along with all other companies offering payment services. This includes a certain operating environment, payment environment, and operating environment.

We cannot be sure whether the RBI has responded to WhatsApp yet.

This Facebook-owned company has also provided a proof of payment service that brings a lot of benefits to various small businesses in India. Through a digital tool that shows increased productivity and sales, this leads to economic development. This demonstrates that WhatsApp's payment service benefits both people and the economy of India.

Daniels has ensured that the company has fully implemented the requirements and security audits necessary from UPI checklist to launch WhatsApp Payment, through trust and good response from NPCI and its affiliates.

Domestic rivals have also highlighted the scandals that WhatsApp has had. For instance, in the case of loose security and not follow the rules of WhatsApp earlier, the company got some bad reputation. WhatsApp is bound to deliver ambitious, detailed blueprints for its payment services. Because the company's authentication and data storage practices are slowly losing trust.

WhatsApp is currently focused on is limiting the spread of phishing through its messaging platform. This fake news is becoming more and more severe in India as it provokes the crowds to become angry and dangerous. Only this year, the crowds were pushed and killed more than a dozen people across the Indian region.

Transitioning and deliberately misrepresenting information on the WhatsApp video has created the most vicious and unpredictable rumors. From the suspicion of a stealing child pervading many people to see everyone else as a kidnapper, to victims alleged of killing animals like cows.

The government has asked the company not to shirk responsibility and handle misinformation in its platform. WhatsApp has also focused on developing features and tools to counter false, misleading news and prevent these messages from being forwarded. Plus, it also concentrates on finding sources of counterfeit information that prevent it.

WhatsApp also recently announced the labeling feature that defines the source of incoming messages, this helps the company find out the people behind these fake news and stop them from the beginning. It also prevents messages from being forwarded to 5 people at once. This Facebook-owned company has also named the head of India.


Sort by Newest | Popular