Categories: Business

WhatsApp’s payments service gets NPCI nod

The National Payments Corporation of India (NPCI) has finally allowed Facebook-owned messaging platform “WhatsApp” to roll out its payments service in the country in a “graded” manner. The announcement by NPCI came after the organisation made a crucial change to its regulations concerning the use of the Unified Payments Interface (UPI). The change puts a limit on single third parties such as WhatsApp or its rivals Google Pay and Walmart’s PhonePe where they can only handle 30 per cent of overall UPI transaction volumes.

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The NPCI runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants’ end while making purchases. The UPI channel has rapidly grown to become India’s most favoured mode of digital transactions since its launch in terms of volumes.

Important takeaways for all competitive exams:

National Payments Corporation of India MD & CEO: Dilip Asbe.
National Payments Corporation of India Headquarters: Mumbai.
National Payments Corporation of India Founded: 2008.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.