Instant messaging app WhatsApp is exploring the Unified Payments Interface (UPI) among other payment modes to launch its payment solution in India.The development comes a month after WhatsApp cofounder Brian Acton had said, during his India visit, that the Facebook-owned company was looking at the digital payments segment in India, stating that the app has reached 200 million monthly active users here. It was first reported by The Ken on Tuesday.
A person familiar with the development told ET that WhatsApp is exploring all modes of payments in India, and that UPI is being explored as one of the options. The idea is to have the correct technical expertise in the area on board, this may or may not be adopted finally by the messaging service, the source said.
Without commenting on WhatsApp's plans to enter digital payments in India through UPI, a spokesperson said: “India is an important country for WhatsApp, and we're understanding how we can contribute more to Digital India. We're exploring how we might work with firms that share this vision and continue to listen to feedback from our users.“
However, a job posting on WhatsApp's website indicates the company's strong focus on UPI. Under a job listing titled 'Digital Transactions Lead, India', the company has cited Ability to understand and explain 'UPI, BHIM, Aadhaar number' as a minimum qualification. Recently, Truecaller launched a UPI-based mobile payment solution in partnership with ICICI Bank.
IndiaStack proponents welcomed the news of a possible WhatsApp-UPI integration. “Peer-to-peer money transfer through UPI is as easy as sending a message. As part of digital India, we are enabling a massive platform open to people, it will be silly for large consumer-centric players to stay out of it,“ IndiaStack architect Pramod Varma said.
Another India Stack member Sanjay Jain said UPI would be a “natural fit“ for WhatsApp. Both, however, declined to confirm or deny the development.
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