For Quick Alerts
For Daily Alerts

WhatsApp To Launch Its Payment Service After Compliance With Data Localisation


WhatsApp, the social messaging platform will adhere to RBI's norms of data localization and store consumers payment data locally i.e. in India by June-July. Soon after which the company will approach the RBI for a fresh go-ahead.

 WhatsApp To Launch Its Payment Service By October-December

Currently, the company is running a pilot programme for its service, WhatsApp Payments with as many as 10 lakh users on board. "RBI has been following up with NPCI relating to the status of compliance by WhatsApp with respect to the circular. As informed by NPCI vide letter dated November 16, 2018 and email dated February 5, 2019, WhatsApp is non-compliant with the RBI circular," it informed.

In April, RBI mandated all payment gateways to maintain payment system information as well as processing locally. The information includes complete end-to-end transaction details, information collected, carried and processed as part of the message as well as payment instructions.

Read more about: whatsapp payments rbi
Story first published: Wednesday, April 10, 2019, 13:01 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more