WhatsApp starts payment service in India
New Delhi: WhatsApp on Friday said it is rolling out its payments services in India after receiving nod from the National Payments Corporation of India (NPCI).
In 2018, the Facebook-owned company had started testing its UPI-based payments service in India, which allows users to utilise the messaging platform to send and receive money. The testing was limited to about a million users as it waited for regulatory approvals to come in.
On Thursday, NPCI - which runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants' end while making purchases - allowed WhatsApp to start its payments service in the country in a "graded" manner, starting with a maximum registered user base of 20 million in UPI.
"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," WhatsApp said in a blogpost.
It added that the payments feature has been designed in partnership with NPCI using UPI, an India-first, real-time payment system that enables transactions with over 160 supported banks.
In June this year, WhatsApp had launched 'WhatsApp Pay' in Brazil - making it the first country where the service was widely rolled out.
In India, WhatsApp - which counts India as its biggest market with over 400 million users - will compete with players like Paytm, Google Pay, Walmart-owned PhonePe and Amazon Pay.
"Payments (service) on WhatsApp is now available for people on the latest version of the iPhone and Android app... We're excited to join India's campaign to increase the ease and use of digital payments, which is helping expand financial inclusion in India," it said adding that users will need to have a bank account and debit card in India to send money through the platform in India.
WhatsApp said it is working with five banks in India - ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank - and people can send money on WhatsApp to anyone using a UPI supported app.
"In the long run, we believe the combination of WhatsApp and UPI's unique architecture can help local organisations address some of the key challenges of our time, including increasing rural participation in the digital economy and delivering financial services to those who have never had access before," it added.
WhatsApp noted that its payments service is designed with a strong set of security and privacy principles, including entering a personal UPI PIN for each payment.
"There is no fee... because its WhatsApp, you know its secure and private too. With UPI, India has created something truly special and is opening up a world of opportunities for micro and small businesses that's the backbone of the Indian economy," Facebook CEO Mark Zuckerberg said in a video message.
He added that the payments service will be available in 10 Indian language versions of WhatsApp.
Interestingly, the approval for WhatsApp came on the same day as NPCI limited a single third party like WhatsApp or its rivals like Google Pay or Walmart's PhonePe to handle only 30 per cent of overall UPI transaction volumes by putting a cap. This is expected to allay fears of potential monopolisation.
Recently, PhonePe had announced crossing the 250 million registered user milestone and over 100 million monthly active users (MAU), and had 835 million UPI transactions in October with a market leading share of over 40 per cent.
Google had 67 million monthly active users in September last year, and on the merchant side, it had over three million active merchant's data for June 2020. Google Pay has not shared any updated stats since September 2019.
UPI processed over 2.07 billion transactions in October (worth Rs 3.86 lakh crore), up from over 1.8 billion in the previous month, as per data from NPCI.
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Food delivery agent intervenes to stop street fight in Delhi's Dwarka, stabbed to death
New Delhi (PTI): A 32-year-old food delivery executive was stabbed to death when he allegedly intervened in a violent altercation between two groups in southwest Delhi's Dwarka, police said on Monday.
The deceased has been identified as Govind Jha, a resident of Mohan Garden.
Three others sustained stab injuries in the incident and are currently undergoing treatment at a hospital, they said.
Authorities also cautioned against attempts to give the incident a communal colour.
According to the police, Jha was on his way to work on Sunday night when he noticed a street fight taking place at Rajapuri in Madhu Vihar area of Dwarka. The altercation involved two men pitted against three others, who were later identified as Parvesh, Anish and Rohit.
"Jha stopped at the spot and attempted to intervene. During the scuffle, the two men allegedly pulled out knives and began stabbing Parvesh, Anish and Rohit. When Jha tried to intervene, he was also attacked," a police officer said.
All four injured persons were rushed to a nearby hospital, where Jha succumbed to his injuries during treatment. The other three men are under medical observation.
Police said the accused fled the spot after the incident, and multiple teams have been formed to identify and apprehend them.
Meanwhile, Deputy Commissioner of Police (Dwarka) Kushal Pal Singh, in a statement, said that some messages circulating on social media are attempting to give a communal angle to the incident.
"In the incident, four people suffered stab injuries and were admitted to the hospital. One person died at the hospital, and the remaining three are undergoing treatment. The victims belong to two different communities. The accused stabbed all four victims. Dwarka Police is conducting a search for the accused," the DCP said.
"There is no communal angle to the incident. Strict action will be taken against those spreading false information," he said.
