Recently, after getting a final nod of approval from NPCI WhatsApp has launched its new UPI based feature, ‘WhatsApp pay’. With its wide user base in the Indian market, the UPI Based feature is certain to affect other existing players in the market. NPCI, acting as a fair regulator, has put a cap of 30 percent on overall transactions by Third party app providers (TRAPs).
What are the changes made by the introduction of new feature? Who are the beneficiaries and whose interests will be adversely affected? Is WhatsApp now a banking service provider also?
This week’s banking post delves deeper into the topic and provides answers to all your questions.
And heartfelt thanks to Lajwanti Manwani for the constant support and guidance!!
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