{"id":5886,"date":"2020-11-06T18:48:53","date_gmt":"2020-11-06T18:48:53","guid":{"rendered":"https:\/\/newmoneyreview.com\/?p=5886"},"modified":"2020-11-19T12:55:37","modified_gmt":"2020-11-19T12:55:37","slug":"whatsapp-gets-green-light-for-payments-in-india","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2020\/11\/06\/whatsapp-gets-green-light-for-payments-in-india\/","title":{"rendered":"WhatsApp gets green light for payments in India"},"content":{"rendered":"<p>Facebook-owned messaging service WhatsApp said that from today it is rolling out a payments option for its 400m users in India.<\/p>\n<p>The new feature will enable Indian users of the app to send money to each other within a WhatsApp message.<\/p>\n<p><em>WhatsApp\u2019s new payments feature for Indian users<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5887\" src=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/11\/whatsapp-india.jpg\" alt=\"\" width=\"408\" height=\"426\" srcset=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/11\/whatsapp-india.jpg 863w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/11\/whatsapp-india-288x300.jpg 288w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/11\/whatsapp-india-768x801.jpg 768w\" sizes=\"auto, (max-width: 408px) 100vw, 408px\" \/><\/p>\n<p>The service relies on users having linked their Indian bank accounts to their WhatsApp accounts.<\/p>\n<p>Payments in rupees, initiated on WhatsApp, are then sent from one bank account to another. This money movement takes place via India\u2019s Unified Payments Interface (UPI), a real-time payments system introduced in 2016.<\/p>\n<p>India <a href=\"https:\/\/newmoneyreview.com\/index.php\/2019\/12\/18\/how-india-leapfrogged-the-west-in-payments\/\">operates one of the most advanced digital payments systems in the world<\/a>, having leapfrogged many Western nations in this area during the last decade.<\/p>\n<p>An important support for the boom in digital payments came with the introduction of a mandatory national identity scheme, called \u2018Aadhaar\u2019 (Hindi for \u2018foundation\u2019), also in 2016.<\/p>\n<p>Aadhaar is a 12-digit, unique identity number available to Indian passport holders and residents. The scheme now has over 1.25bn users and is the world&#8217;s largest biometric ID system.<\/p>\n<p>Facebook\u2019s payments push in the world\u2019s second most populous nation has not been without its hiccups.<\/p>\n<p>A year ago, <a href=\"And%20last%20week%20the%20Times%20of%20India%20reported%20that%20the%20country\u2019s%20central%20bank,%20the%20Reserve%20Bank%20of%20India%20(RBI),%20had%20decided%20not%20to%20allow%20the%20full-scale%20launch%20of%20a%20payments%20business%20in%20India%20by%20Facebook%20because%20of%20the%20firm\u2019s%20non-compliance%20with%20a%20requirement%20to%20store%20data%20locally.\">Indian regulators stopped the tech giant from launching its WhatsApp money transfer service<\/a> after the US firm had reportedly failed to comply with a requirement to store data locally.<\/p>\n<p>However, in June this year <a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/compliant-with-rbis-data-norms-whatsapp\/articleshow\/76453655.cms\">the <em>Times of India<\/em> reported<\/a> that Facebook had become compliant with regulators\u2019 demands by agreeing to store five data elements within India\u2019s borders.<\/p>\n<p><em><a href=\"http:\/\/eepurl.com\/du6eTr\">Sign up here<\/a> for the monthly New Money Review newsletter<\/em><\/p>\n<p><em><a href=\"https:\/\/blubrry.com\/newmoneyreview\/\">Click here<\/a> for a full list of episodes of the New Money Review podcast: the future of money in 30 minutes<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Facebook-owned messaging service WhatsApp said that from today it is rolling out a payments option for its 400m users in India. The new feature will enable Indian users of the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":5885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1053,1026,1014],"tags":[1617,1055,1594,1388],"class_list":{"0":"post-5886","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured-1","8":"category-latest-slider","9":"category-payment","10":"tag-aadhaar","11":"tag-facebook","12":"tag-india","13":"tag-whatsapp"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>WhatsApp gets green light for payments in India - New Money Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmoneyreview.com\/index.php\/2020\/11\/06\/whatsapp-gets-green-light-for-payments-in-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WhatsApp gets green light for payments in India - New Money Review\" \/>\n<meta property=\"og:description\" content=\"Facebook-owned messaging service WhatsApp said that from today it is rolling out a payments option for its 400m users in India. The new feature will enable Indian users of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/newmoneyreview.com\/index.php\/2020\/11\/06\/whatsapp-gets-green-light-for-payments-in-india\/\" \/>\n<meta property=\"og:site_name\" content=\"New Money Review\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-06T18:48:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-19T12:55:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/11\/Indian-market.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"932\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"New Money Review Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newmoneyreview\" \/>\n<meta name=\"twitter:site\" content=\"@newmoneyreview\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"New Money Review Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/11\/06\/whatsapp-gets-green-light-for-payments-in-india\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/11\/06\/whatsapp-gets-green-light-for-payments-in-india\/\"},\"author\":{\"name\":\"New Money Review Staff\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/34c47dea9161c6b33d0ca38dc5972730\"},\"headline\":\"WhatsApp gets green light for payments in India\",\"datePublished\":\"2020-11-06T18:48:53+00:00\",\"dateModified\":\"2020-11-19T12:55:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/11\/06\/whatsapp-gets-green-light-for-payments-in-india\/\"},\"wordCount\":294,\"publisher\":{\"@id\":\"https:\/\/newmoneyreview.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/11\/06\/whatsapp-gets-green-light-for-payments-in-india\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/11\/Indian-market.jpg\",\"keywords\":[\"Aadhaar\",\"facebook\",\"India\",\"WhatsApp\"],\"articleSection\":[\"Featured\",\"Latest\",\"PAYMENT\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/11\/06\/whatsapp-gets-green-light-for-payments-in-india\/\",\"url\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/11\/06\/whatsapp-gets-green-light-for-payments-in-india\/\",\"name\":\"WhatsApp gets green light for payments in India - 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