wordpress blog stats
Connect with us

Hi, what are you looking for?

, , , ,

WhatsApp UPI payments spotted in beta version; Will it get its own financial address?

WhatsApp is getting closer to enabling payments over the unified payments interface (UPI) as the feature was spotted on a beta version of the app. Wabetainfo reported late last night that version 2.17.295 will enable "immediate bank-to-bank transfer with the UPI." MediaNama downloaded the beta version the app but were unable to access the feature as it is still hidden. From the screenshot, users will have to agree to WhatsApp Payments and the bank's terms and privacy policy. Currently, there is no indication which bank WhatsApp has tied up with for payments but Ajay Kumar, additional secretary for the ministry of electronics and IT, tweeted out that WhatsApp Payments will be powered by the National Payments Corporation of India's (NPCI) BHIM app. Proposed @WhatsApp payment system in India to be powered by @NPCI_BHIM app. — Ajay Kumar (@drajaykumar_ias) August 6, 2017 The UPI saw a 12% growth in the total transaction volumes taking place between June and July 2017. The Number of transactions grew by 1.28 million in July 2017 whereas the total amount transacted increased by, up by Rs 313 crores. In June 2017, volume had increased by 1.19 million and amount transacted had grown Rs 333.05 crores. Financial address? Note that it is also unclear if WhatsApp will be getting a financial address of its own, something like shashi@whatsapp. Samsung Pay, despite being powered by Axis Bank, has its own UPI handle called @pingpay. The draft paper for the UPI said that it was technically possible to create a financial address. So it should be possible for…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

News

By Soujanya Sridharan and Dr. Sarayu Natarajan Platform work and data: the intersection Every time you use a ride-hailing app, the matching algorithm processes...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ