WhatsApp to implement UPI-based payment system in India
Facebook-owned WhatsApp is finally throwing
its hat in the online payment system, starting first with India, its biggest
market in the world.
The company is said to be working on a system
based on India’s UPI or Unified Payments Interface to allow person to person
transactions. The UPI system was borne out of India’s drive towards a cashless
digital economy and has been adopted by all the major banks and even some
services such as Truecaller.
Facebook currently has a job opening for Digital Transactions Lead, India in Menlo
Park, California, with one of the job requirements being ‘Ability to understand
and explain UPI, BHIM, Aadhar number’.
Speaking to Bloomberg, WhatsApp said it wants
to “contribute more to India’s vision for digital commerce.” While India might
be the first market on WhatsApp’s roadmap it will eventually bring this feature
to other markets.
Source: gsmarena
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