World’s most popular messaging application, WhatsApp has got approval for UPI (Unified Payments Interface) with the partnership of multiple banks by the NPCI (National Payments Corporation of India), according to the reports.
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UPI facilitates in transferring money from one account to another without having any details of the beneficiary’s bank.
MD and CEO of NPCI, Mr Hoda has confirmed that WhatsApp is all set to get into United Payment Interface and is in talks with banks like Axis Bank, ICICI Bank and Punjab National Bank for partnership.
Facebook-owned WhatsApp was in long talks with the authorities to make this happen. This is the first time that NPCI has approved a mobile app to enter into multi-bank partnerships.
Other online merchants like Amazon and Uber are also in the testing of UPI with its customers. Flipkart has already started UPI payments.
WhatsApp has about 200 million monthly active users in India.