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WhatsApp in talk with SBI, NCPI to launch UPI-based payments service: Report

WhatsApp has reportedly initiated discussions with Indian banks and other institutions to allow its users to make payment via United Payment Interface  (UPI ).

UPI lets users to transfer fund between two people or a bank account instantly via smartphone.

The company is in talks with State Bank of India, The National payments corporation of India and few other institutions.

A senior SBI official said ,

“We are currently at the ‘proof of concept’ stage, looking at ways to integrate it with our back-end.”

A WhatsApp spokesperson did not give clear indication about the plan but said that it is exploring ways to contribute more to the Digital India initiative.

Recently Hike messenger too started UPI based payments in collaboration with YES Bank.

WhatsApp  , which has more than 209 million users has a huge potential for enterprise solutions as well for this new payment features.

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