WhatsApp awaits RBI approval to expand its payment services

The  WhatsApp sought Reserve Bank of India’s (RBI) approval that it can expand its payments services to all its 200 million users in India. The messaging app is waiting for a regulatory clearance to launch full-fledged payments operations in India. It has been almost two years since it first began discussions with the government on its payments services plans. The initiation comes at a time when competitors such as Google have forged ahead with their payments offerings. WhatsApp has drawn fire from the government over the spread of fake messages on its platform.

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Key Highlights 

  • WhatsApp is currently piloting WhatsApp payments, and its Chief Chris Daniels has now written to the RBI urging that a formal approval is granted to take the payments product to all its users in the country.
  • The  WhatsApp sought Reserve Bank of India’s (RBI) approval that it can expand its payments services to all its 200 million users in India.
  • The initiation comes at a time when competitors such as Google have forged ahead with their payments offerings.
  • WhatsApp has drawn fire from the government over the spread of fake messages on its platform.

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