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WhatsApp to roll out its payment services by end of this year: Report

WhatsApp
WhatsApp

WhatsApp India’s head, Abhijit Bose, said that they are hoping to enable payment services on WhatsApp Business by the end of this year, Economic Times reported. This statement comes at the heels of Facebook vice-president for global affairs and communications Nick Clegg’s meeting with the IT Minister R.S. Prasad where the former said that Facebook is still awaiting regulatory clearances from the government to roll out WhatsApp payment services in India.

Payment services for WhatsApp Business

Enabling payments on WhatsApp Business, which allows small and medium-sized entrepreneurs to interact with their customers, will allow businesses to complete their transactions through the same platform. WhatsApp Business is a free app, but its API is a paid service that WhatsApp offers to select medium and large businesses that communicate with customers across the world.

Government’s concern over security

WhatsApp began testing the payment services in India in 2018 and has since then been waiting for approvals. Its roll-out has been delayed as Indian authorities are concerned that WhatsApp’s payment services might share user data with Facebook and Instagram, which would hamper the security and privacy of its subscribers, Economic Times had reported. In May 2019, WhatsApp had told the Supreme Court that it would not launch payment services in India without fully complying with the norms of RBI.

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