WhatsApp Pay went through a lot trying to get its services approved by the National Payments Corporation of India. It was a tough period WhatsApp had to go through; but in the end it worked out just fine. One year after its approval, WhatsApp Pay has just been granted the permission to double its userbase.
WhatsApp Pay only got approval to onboard 20 million users at the time of approval. One year later, the Indian regulatory body has given the app the nod to expand its userbase to 40 million.
Citing sources, Reuters reports that no exact date is known when the new cap will take effect. If the report is anything to go by, then the new cap is imminent. Regardless, the 40 million-cap will hinder the growth of the services given the fact that more than 500 million people use WhatsApp Pay in India.
Currently there is no clarity on the number of people using WhatsApp Pay in India. However, the same source told Reuters that WhatsApp is closing-in on the initial 20-million cap.
WhatsApp Pay went live on the country’s United Payments Interface [UPI] in 2020. WhatsApp was also told by the NPCI that expansion of payments to users can only be in “graded manner.”
WhatsApp was told that it could only extend its payment service to 20 million people and had to work with multiple banking partners. The NCPI also said it would be enforcing a cap on third-party apps to ensure that no single app processes more than 30 percent of all UPI transactions in a month.
WhatsApp is reportedly working on a dedicated Pay button. The button, according to reliable leaker WABetaInfo, will allow you to send money via WhatsApp pay in the app. The new button according to the leaker, is already available to beta users.
When fully available, users in India and Brazil will be able to send money by clicking on the button. WABetaInfo already boasts of excellent track records when it comes to information about WhatsApp.
Users who want to send money via WhatsApp can do so by clicking on the “+” button, then hit “Payment.” Some beta users in India have confirmed the availability of the button—but this is not exactly new because it has been available to them for sometimes now. However, a wider roll out is being confirmed by more people in India.