The messaging app WhatsApp, owned by Facebook, has received the approval by the National Corporation of Payments of India (NPCI, for its acronym in English) in order to implement a service of money transfers in India, still in beta phase, with a user base not exceeding million and under a maximum limit of transaction.
So what has indicated the NPCI said in a statement, an organization that oversees all payment services retailers in India and which was established by the central bank of the country, where it has been explained that four banks will join this model, driven by the government protocol United Payments Interface (UPI).
“The model multi-bank offers advantages such as load distribution of transactions between banks and promotion of digital payments,” said the NPCI, which adds, however, that you should follow a few guidelines are well defined and adhere to the goal of being interoperable.
The full version will be launched once the beta version has proven its success. India is the largest market of the mobile messaging platform, which has more than 200 million active users.