When the messaging platform started its payment service, at that time it got permission from NPCI for 20 million users, followed by 40 million users. Now after getting the permission of 60 million more users, this figure for WhatsApp has increased to 100 million. That is, now WhatsApp can include 100 million users out of its 500 million users in the payment service.
WhatsApp had been telling NPCI for years that India is the biggest market for it and no limit should be imposed for providing payment service to users here. In November 2021, NCPI increased the limit for WhatsApp payment service from 2 crores to 4 crores.
NPCI gave permission to WhatsApp to launch payment service in 2020. For many years, the company had been continuously trying to comply with Indian regulations, including the terms of data storage. The Indian government wanted the company to store the payment-related data on a local server. There is a huge crowd in the digital payment service sector in India. In India, WhatsApp competes with Alphabet’s Google Pay, SoftBank and Ant Group’s Paytm and Walmart’s PhonePe payment services.
Comment about this development was not yet received from WhatsApp. However, the NPCI confirmed the development in a statement to Reuters. This is a relief news for WhatsApp, but the number of its users is more than 500 million. In this sense, even after the new limit, the development of the platform’s payment service can only happen in a limited range.