Here's What's Holding Up Wider Rollout of WhatsApp Payments in India

Information technology's been months since WhatsApp has knocked on the Indian government'southward doors for the final approvals for a wider rollout of UPI-based WhatsApp Payments service. And the wait is only about to go longer.

Despite following the guidelines issued by NPCI, information localization is still the bone of contention between WhatsApp and the government, and unless that hurdle is crossed, chances of WhatsApp Payments beingness bachelor country-wide are quite slim.

Multiple industry insiders familiar with the ongoing developments have revealed that data localization is the major issue which is impeding the wider availability of WhatsApp Payments, and the problem is farther aggravated by WhatsApp's role in the spread of fake news and the company's association with Facebook.

"Unless the issue around storage of payments data inside India is sorted out none of the global giants who have data centres globally will be able to become live. Though WhatsApp has implemented all the blueprint requirements for UPI as specified by NPCI, till the data localisation issue is addressed they volition not exist able to go live", a senior executive of a private sector bank was quoted equally saying by EconomicTimes.

WhatsApp recently claimed that information technology feels singled out in Bharat considering WhatsApp'due south regulatory compliance is same as that of Google, but despite that, Google's payments service, too as that of local rivals, are getting a preferential treatment by the government.

The National Payments Corporation of Republic of india (NPCI) has made it quite clear that unless the information localization term is agreed upon, WhatsApp's payments service might not encounter wider availability in the country. "Timeline to go full-scale alive depends on the app provider's compliance to data localization. We keep RBI informed for all large providers going fullscale live on a multibank model in one case all the compliance requirements are fulfilled", NPCI said in a statement.

Then there is besides the event of WhatsApp Payments' limited availability to a modest circle of users as a pilot project. The Reserve Bank of India, in a written response to an RTI complaint, clearly mentioned that the central banking authority never approved NPCI's consent 'to let WhatsApp to launch and provide payment services to its users in India'.So, information technology at present appears that not only WhatsApp has to swallow the bitter pill of storing user data on local servers, the company might also have to receive RBI'due south consent if WhatsApp Payments is to ever go live on a mass scale.

Source: https://beebom.com/data-localization-whatsapp-payments-india/

Posted by: pooletandidelf.blogspot.com

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