WhatsApp Pay, a payment solution backed by the Unified Payment Interface (UPI), has been available for some time through WhatsApp by Meta. WhatsApp was only able to enroll a certain amount of users, though. WhatsApp is relieved that the National Payments Corporation of India (NPCI) has lifted that cap, allowing it to enroll as many users as necessary.
“Previously, NPCI had permitted WhatsApp Pay to expand its UPI user base in a phased manner. With this development, WhatsApp Pay can now extend UPI services to its entire user base in India,” NPCI said in a press statement.
The amount of customers WhatsApp could enroll for its payment service was limited by the NPCI in order to keep an eye on security and performance issues. Due to this constraint, Meta was only able to enroll up to 100 million WhatsApp Pay customers in 2022.
Users may send and receive money with other WhatsApp users without ever leaving the app thanks to WhatsApp Pay. In addition to sending money to users of other UPI payment applications like PhonePe and GPay, users may also make money requests.
NPCI has, however, also postponed for a further two years the implementation of a 30% UPI market share ceiling for all participants. This is a huge relief for PhonePe, which now holds a market share of over 47%. It means that service providers such as GPay, PhonePe, Paytm, WhatsApp Pay, and others can maintain a maximum market share of over 30% until at least December 2026.
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