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The move is expected to have profound implications for WhatsApp Pay and the broader UPI market
WhatsApp has received approval from the NPCI to offer its payment service to all users in India, removing the earlier cap of 100 million Unified Payments Interface (UPI) users
Apex payments body also relaxes user onboarding limits for WhatsApp Pay, enabling messaging firm to onboard all of its India users
With this development, WhatsApp Pay can now extend UPI services to its entire user base in India
With an end-to-end shopping experience within WhatsApp, JioMart has been able to engage consumers hesitant to shop online, according to a company statement
Tata AIA has partnered with WhatsApp and PayU to make payments through Unified Payment Interfaces (UPIs) for their consumers more efficient
Vinay Choletti leaving as Meta-owned messaging platform ramps up investments in its payment service in India
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The free run for PhonePe and Google Pay is likely to continue, as the 30% market cap mandate will not come into force for another two years. So, what does it mean for new players like WhatsApp?
Mahatme played a role in helping WhatsApp to win regulatory approval to more than double the number of users of its payments service in India to 100 million
Mahatme's exit comes at a critical time for Whatsapp, which is seeking to ramp up its payments service in a highly competitive market
WhatsApp India on Tuesday said that over the next six months, it will make significant investments regarding digital payments on its platform across the country
The company had requested that there should be no cap on users of its payment service in India
'We will have exciting things to share over the next few months (on Jio Mart-WhatsApp collaboration)', said Ajit Mohan
Built for India, this new feature is relevant, exciting, and memorable as it helps people easily convey a feeling along with sending money.
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Previously, WhatsApp has stated that more than 175 million people message a WhatsApp Business account every day.