WhatsApp’s funds service will get NPCI nod

The National Payments Corporation of India (NPCI) has lastly allowed Facebook-owned messaging platform “WhatsApp” to roll out its funds service within the nation in a “graded” method. The announcement by NPCI got here after the organisation made a vital change to its rules regarding using the Unified Payments Interface (UPI). The change places a restrict on single third events reminiscent of WhatsApp or its rivals Google Pay and Walmart’s PhonePe the place they will solely deal with 30 per cent of general UPI transaction volumes.

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The NPCI runs the Unified Payments Interface (UPI) used for real-time funds between friends or at retailers’ finish whereas making purchases. The UPI channel has quickly grown to grow to be India’s most favoured mode of digital transactions since its launch when it comes to volumes.

Important takeaways for all aggressive exams:

  • National Payments Corporation of India MD & CEO: Dilip Asbe.
  • National Payments Corporation of India Headquarters: Mumbai.
  • National Payments Corporation of India Founded: 2008.

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