WhatsApp Pay receives regulatory approval for operating in India

guest · Feb 10, 2020

WhatsApp Pay receives regulatory approval for operating in India
February 10, 2020
https://www.xda-developers.com/whatsapp-pay-regulatory-approval-india/

Back in 2017, we first found signs of a new payments feature in Facebook’s popular messaging app WhatsApp. In India, the UPI-based payments feature was briefly rolled out to a small number of users back in 2018.

However, due to data localization issues with the National Payments Corporation of India (NPCI), a wider rollout was pushed back indefinitely. The company has been in constant talks with the government of India and Facebook’s Mark Zuckerberg also assured that the payments service would be launched in India soon.
As per a recent report from Business Standard, WhatsApp has secured regulatory approval to launch its payments platform in the country in a phased manner.
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As soon as WhatsApp is able to roll out its payments feature nation-wide, we believe that it will capture a huge chunk of the online-payments space. This is because WhatsApp already has a strong presence in India, with over 400 million users as of July 2019. Competitors like Google Pay and PayTM, who have invested heavily in marketing campaigns to dominate the space, might be left behind solely because of WhatsApp’s extremely large user base.
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guest · Jun 15, 2020

WhatsApp launches digital payments in Brazil after beta testing in India
The payments are enabled by Facebook Pay
June 15, 2020
https://www.theverge.com/2020/6/15/21291382/whatsapp-digital-payments-brazil-facebook-pay

After testing a beta version in India, WhatsApp has launched in-app payments in Brazil, the company announced in a blog post on Monday (via TechCrunch). The payments are enabled through Facebook Pay, which parent company Facebook said last year it would be rolling out to Instagram, Messenger, Facebook, and eventually WhatsApp.

“Payments on WhatsApp are beginning to roll out to people across Brazil beginning today and we look forward to bringing it to everyone as we go forward,” the company said in the post. WhatsApp says its digital payments are an open model that will allow it to add more partners in the future.
There will be no fees for consumers to use the payments service, but merchants will pay a processing fee to receive payments. Users need to link a credit or debit card to their WhatsApp account, and transactions are secured with either fingerprint or a six-digit PIN.
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But as TechCrunch notes, Facebook has dealt with a number of regulatory issues in India and has a somewhat complicated history there;
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Whatsapp: Bringing Payments to WhatsApp for People and Small Businesses in Brazil

We’re excited to announce that starting today we’re bringing digital payments to WhatsApp users in Brazil. People will be able to send money securely or make a purchase from a local business without leaving their chat.

To start, we will support debit or credit cards from Banco do Brasil, Nubank, and Sicredi on the Visa and Mastercard networks -and we are working with Cielo, the leading payments processor in Brazil. We have built an open model to welcome more partners in the future.
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guest · Jun 24, 2020

WhatsApp’s new payments system stalls in Brazil
June 24, 2020
https://venturebeat.com/2020/06/24/whatsapps-new-payments-system-stalls-in-brazil/

Brazil’s central bank effectively suspended a newly-launched system allowing users of Facebook’s WhatsApp messaging service to send money via chats, ordering Visa and Mastercard to halt payments and transfers via the system.

The central bank said in a statement that rolling out the service without previous analysis by the monetary authority could damage the Brazilian payments system in the areas of competition, efficiency and data privacy.
The system, launched last week in a nationwide rollout, allowed users to transfer funds to individuals or local businesses within a chat, attaching payments as they would a photo or video.

If Visa and Mastercard do not comply with the order, they would be subject to fines and administrative sanctions, the statement said.
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guest · Jul 31, 2020

Brazil central bank authorizes tests of Facebook's WhatsApp pay, Mastercard and Visa say
July 31, 2020
https://www.reuters.com/article/us-...app-pay-mastercard-and-visa-say-idUSKCN24W337

Brazil’s central bank has authorized testing of payments via Facebook Inc’s messaging service WhatsApp in the country, Visa Inc and Mastercard Inc said on Friday, easing an outright ban on the service imposed last month.

Mastercard said in a statement that the tests would allow a limited number of cards to make small payments while the service is still pending central bank approval.
The central bank said in a statement that “the request is being analyzed and is following the normal approval procedure,” without elaborating.
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guest · Aug 19, 2020

Competition Commission of India throws out antitrust complaint against WhatsApp
August 19, 2020
https://www.deccanherald.com/busine...itrust-complaint-against-whatsapp-875189.html

India's antitrust watchdog has dismissed a case against Facebook's WhatsApp, saying the company has not abused its dominant position to expand in the country's digital payments market, according to an official order.

A case in March alleged that WhatsApp was bundling its digital payment facility - WhatsApp Pay - within its messaging app for which it already has a large user base. The case alleged WhatsApp was abusing its position by forcing its payments feature on to its existing users.
In a 41-page official order made public late on Tuesday, the Competition Commission of India (CCI) said it did not find any contravention of antitrust laws, adding the company's "actual conduct is yet to manifest in the market" as it has not fully launched the service yet.

"As stated by WhatsApp, the number of users being served under the beta version is limited to less than 1% of its users in India," said the order.
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In its defence, the company had told the CCI its users are not required to register for or use WhatsApp's payment feature in order to use the messaging service, the order said.
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guest · Nov 7, 2020

WhatsApp is rolling out peer-to-peer payments in India
Using the country’s Universal Payments Interface for transactions
November 6, 2020
https://www.androidpolice.com/2020/11/06/whatsapp-is-rolling-out-peer-to-peer-payments-in-india/

WhatsApp has been working on a mobile payment solution in India for a long time, with the first test runs starting all the way back in 2018. After this extensive period of trials and an unrelated (attempted) launch of the feature in Brazil, the time has finally come — Facebook has announced that it's launching Payments on WhatsApp in India.

In the beginning, WhatsApp supports the five leading banks in the country: ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank. That's in line with a report from May that listed all payment partners except for Jio.
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To send money, you need to have a bank account and a debit card with one of the institutions since WhatsApp sends payment instructions to the banks to initiate a transfer between sender and receiver via UPI, India's national real-time payment system.

WhatsApp writes that Payments will become available for people on the latest version of the messenger on Android and iOS, so be sure to check the Play Store for updates or download the current release from APK Mirror to get started. It looks like there's a server-side update involved as well, as the Indian banks' payments regulation body NPCI only allows for a gradual rollout of the feature "starting with a maximum registered user base of twenty (20) million in UPI."
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Facebook: Send Payments in India With WhatsApp

Starting today, people across India will be able to send money through WhatsApp. This secure payments experience makes transferring money just as easy as sending a message. People can safely send money to a family member or share the cost of goods from a distance without having to exchange cash in person or going to a local bank.
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Google Play Store: WhatsApp Messenger

guest · Dec 6, 2021

WhatsApp wins approval to expand WhatsApp Pay to 40 million users in India
November 26, 2021

WhatsApp has won regulatory approval from The National Payments Corporation of India (NCPI) to double the number of users it can offer its payments service in India to. This comes after the Facebook-owned (well, Meta-owned) company requested that it should not have a cap on the number of users that it can work with.

WhatsApp Pay is built upon the Unified Payments Interface (UPI) platform, and it’s a part of a growing list of UPI-powered payments services, including Google Pay, Flipkart’s PhonePe, and Paytm. It’s pretty easy to get started using WhatsApp for sending and receiving money.
It can be used to send and receive money between two bank accounts free of charge in a fast and secure way, and with this expansion, as reported by Reuters, the company will now be able to offer its services to 40 million users.
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