new Delhi. Amid reports of the closure of the recently launched WhatsApp payment system in Brazil and being unsafe on social media against Google Pay in India, Facebook-owned messaging platform WhatsApp has said that it will launch its payment service in India Committed. WhatsApp has been working on its payment service in India for the last two years. On the other hand, Google Pay has said that as per the procedure laid down under the guidelines of Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI), transactions done through its platform are completely safe.
This explanation of Google Pay came after the discussion on social media that the transfer of money through it is not legal as it is an unauthorized app. A Google spokesperson said that it has been wrongly cited in some places in social media that it has been claimed that transferring money through Google Pay is not legal as the app is unauthorized. This is incorrect and its truth can be found on the NPCI website. A Google spokesperson said that the RBI has not said any such thing in the court hearing. Earlier this month, the RBI told the Delhi High Court that Google Pay is a third-party app provider and does not operate any payment system. The RBI also said that its operation is not in violation of the Payment and Settlement Systems Act of 2007.
The WhatsApp spokesperson said in a statement that we are in constant dialogue with our local partners and the central bank in Brazil, we are committed to launching WhatsApp payments in India. He said that UPI is a lighthouse model for the whole world. Local banks and institutions are promoting innovation at the local level, which is capable of extending financial services to all. Brazil has banned WhatsApp payment, it was launched here only last week. The Brazilian government says that this will hurt the competitiveness, efficiency and data privacy of the Brazilian payment system.
WhatsApp has said in the Supreme Court last week that it is meeting the need for local data collection under the RBI's banking guidelines. India is the largest market for WhatsApp. It has more than 400 million users here. WhatsApp launched UPI-based WhatsApp Pay in February 2018, which is still under testing with 1 million people.
This post was published on June 25, 2020 10:46 am
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