Facebook announced on Thursday that users of the Indian instant messaging service WhatsApp will be able to send money starting Friday.
Facebook said in the article: After the country's main payment processor receives approval to launch the system, WhatsApp payment services will start today.
WhatsApp is the largest marketplace in India with over 400 million users and has been running a limited peer-to-peer payment service for users for two years. It is still subject to regulatory approval.
Facebook CEO Mark Zuckerberg said in a statement: `` Payments are now available on WhatsApp in ten regional Indian languages. "
WhatsApp has worked with five Indian banks including the National Bank of India and Jio Payments Bank.
India's National Payments Corporation announced Thursday that WhatsApp will initially expand the service to a maximum of 20 million users.
All major payers in India use the Unified Payment Interface (UPI) framework established by the Indian National Payment Corporation to provide services such as peer-to-peer transfers, utility payments, and phone credit recharges.
According to India's National Payments Corporation, the UPI executive handled more than 2.07 billion transactions in October last year, up from 1.8 billion last month.
Facebook acquired a 9.99% stake in its Digital Reliance division for $ 5.7 billion earlier this year. The investment gives WhatsApp an in-house payment method to Reliance's retail division, a service that enables tens of millions of small stores in India to provide services. .
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| WhatsApp has officially launched its WhatsApp payment service in India |