NPCI (National Payments Corporation of India) this week claimed that it has permitted WhatsApp to beta trial its transaction service with low transaction limit and restricted consumer base of 1 Million. The payment service of WhatsApp will give a competition to the likes of Paytm, whose established Vijay Shekhar Sharma has been in opposition to the Facebook-controlled firm. He has even blamed that the U.S. company was receiving unjust benefit.
“Presently, NPCI has offered its permission to launch out WhatsApp BHIM UPI beta with low transaction limit and restricted consumer base of 1 Million. Almost 4 banks will join the multi-bank model of BHIM UPI in stages (in the forthcoming weeks) and full feature app shall be rolled out after the beta trial is victorious,” NPCI claimed to the media in an interview.
It claimed that multi-bank model provides benefits such as load distribution of transaction between banks and assists to incorporate popular applications effortlessly with BHIM UPI. NPCI claimed that its broad rules for inter-operability comprise capability of sending and receiving cash via any BHIM UPI ID and read, generate, collect call, and intent BHIM/Bharat QR code that are needed in last BHIM UPI application.
“BHIM UPI allowed the app that fulfils such rules only will be allowable for full scale-public roll out,” it emphasized. Being an umbrella organization for all retail transactions in the country, NPCI declared that it follows “distinct rules” for BHIM UPI offerings with the aim of making its website “inter-operable and supported on open standards that are secure and convenient “.
Sharma had lifted a storm after Facebook-controlled WhatsApp began trialing payments via its platform. He blamed that UPI payment platform of WhatsApp has safety risks for users and is not in fulfillment with the rules. Sharma blamed Facebook of having done adjustments to get advantages.