WhatsApp Pay possibly to launch in India by the end of May
WhatsApp Pay possibly to launch in India by the end of May

WhatsApp Pay Beta has been available in India for the last two years, but till now it has not been launched officially. The reason is that it is yet to get some permission in India. According to the report, WhatsApp Pay can be launched by the end of this month.

Google Pay and Truecaller are among the main platforms that currently allow transactions through several banks and now WhatsApp Pay is additionally preparing to use an equivalent model.

WhatsApp Pay appears possibly launch by the end of the month. As per the report, the payment service by the instant messaging app, which is currently live under beta testing, will soon be launched in partnership with three private banks - Axis Bank, HDFC Bank, and ICICI Bank and later in the public sector state bank of India (SBI) will also be added. Currently, WhatsApp Pay within the Beta Testing phase allows transactions supported Unified Payment Interface (UPI) through ICICI Bank.

In the Moneycontrol report, citing some sources aware of this news, it has been claimed that the process of integration of Axis Bank, HDFC Bank, ICICI Bank, and SBI in WhatsApp is under progress. However, it has been said that initially WhatsApp Pay service will be started with three private banks out of the above-mentioned banks, and later SBI will be added to it.

The National Payments Corporation of India (NPCI) recently mandated the choice of a multi-bank model to avoid any delay in transactions for big digital platforms offering UPI-based payment services. If a bank is facing any problem in allowing payments, then this multi-bank model proves to be helpful. The drawbacks of using the single-bank model were revealed during the Yes Bank moratorium earlier this year, which halted operations of platforms like PhonePe and Swiggy for some time during that period.

Google Pay and Truecaller are among the main platforms that currently allow transactions through multiple banks. Interestingly, Google Pay already has Axis Bank, HDFC Bank, ICICI, and SBI as the acquiring banks, which enable UPI-based transactions.

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