Centre directs WhatsApp to set up India office prior to payments service launch


fb_whatsappThe central government has directed WhatsApp to set up its office in India prior to launch its payments services in the country.

In addition to this, the centre is also planning to consult the Reserve Bank of India on remotely controlled payment services and its chances of violating rules.

While the completion of these verifications is going to delay the launch of WhatsApp Pay further, the company seems positive and unhindered regarding the launch.

According to the latest developments, the mobile app service has updated its policy on payments services and has added HDFC Bank and Axis Bank to its list of partner banks with ICICI Bank being an existing partner.

Reportedly, WhatsApp has also omitted the tag of “beta product” for its payment service. While experts believe that these initiatives are a sign of an imminent launch, others believe that unless the company complies with all the mandates flagged off by the government, the service is unlikely to hit the floor anytime soon.

At a meeting held in July, between IT secretary Ajay Prakash Sawhney and top WhatsApp executives, including COO Matthew Idema, the government conveyed its reservations to the Facebook-backed company and the security concerns pertaining to the launch of its payments services.


The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.