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Friday, November 27, 2020

With WhatsApp payments cleared, Zuckerberg says sending money now as easy as sending a message

Zuckerberg said with UPI, India has created something truly special and is opening up a “world of opportunities for micro and small businesses that are the backbone of the Indian economy”.

By: Tech Desk | Updated: November 6, 2020 10:34:35 am
WhatsApp, Mark Zuckerberg, Facebook, WhatsApp 100 billion messages, WhatsApp new feature, Mark Zuckerberg speech, Facebook, Facebook quarterly results, InstagramWhatsApp gets green light for payment service in India.

Hours after the National Payments Corporation of India cleared UPI payments via WhatsApp, Facebook CEO Mark Zuckerberg said he sending money will be now as easy as sending a message.

“Now you can send money to your friends and family through WhatsApp as easily as sending a message. There’s no fee, and it’s supported by more than 140 banks. And because it’s WhatsApp, it’s secure and private too,” he said in a video message.

Zuckerberg said digital payments had become “really important” in the context of the pandemic as “it’s safer than handing someone cash and eliminates the need from standing in line at the bank”.

“We’ve been working on this with the National Payments Corporation of India, who oversee everything to make sure it’s secure and reliable. And we’ve built it using India’s Unified Payments Interface, which makes it easy for anyone to instantly accept payments across different apps — and for companies to provide people with great services,” he said.

Zuckerberg said with UPI, India has created something truly special and is opening up a “world of opportunities for micro and small businesses that are the backbone of the Indian economy”.

“India is the first country to do anything like this. I’m glad we were able to support this effort and work together to help achieve a more digital India.” He added: “When people can access financial tools, they’re more empowered to support themselves and others, or start a business. Long term, we need more innovation that gives people control over their money, and making payments easier is a small step that can really help.”

WhatsApp payments is available now in ten Indian regional language versions of WhatsApp and users will just need to link their UPI-supported debit card from ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India or the Jio Payments Bank. People can send money on WhatsApp to anyone using a UPI supported app. Payments on WhatsApp is now available for people on the latest version of the iPhone and Android app.

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