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WhatsApp chief writes to RBI, seeks nod to expand payment services

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WhatsApp Chief has written to the Reserve Bank of India RBI

WhatsApp chief writes to RBI, seeks nod to expand payment
services to all users, seeking a formal nod to expand payments services to all
its 200 million users in India. The development comes at a time when
competitors such as Google have forged ahead with their payments offerings.

The letter, dated November 5, mentions that WhatsApp’s
partner banks have also submitted a request for formal approval. In the letter,
WhatsApp noted that the platform had rushed to ensure that the payments data is
stored in India, immediately after the RBI came out with a directive outlining
the new payments data storage requirements in April this year.

“Based on feedback from NPCI and our bank
partners, we are confident that we are fully compliant with the UPI checklist, have
made all necessary submissions and have passed the security audits required to
launch WhatsApp Payments,” Daniels said.

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