Highlights

  • UPI is a retail payment method via digital mode
  • NPCI is the umbrella organisation for operating retail payments

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WhatsApp to provide UPI payment services to 10 crore Indians now

The NPCI has authorised WhatsApp to provide UPI payments services to 6 crore more users in India

More WhatsApp users will now be able to make easy monetary transactions using UPI as India's payment authorisation body has approved an additional six crore users for the messaging platform.

With this approval, WhatsApp will be able to expand the service to its 10 crore users, the National Payments Corporation of India (NPCI) said, announcing the decision.

Also read/watch | PM Modi gives a thumbs up to UPI's 'sound of money'

Unified Payments Interface (UPI) is a retail payment method via digital mode.

The NPCI is the umbrella organisation for operating retail payments and settlement systems in India.

The NPCI is focused on bringing innovations in retail payment systems through the use of technology. It is facilitating secure payment solutions with nationwide accessibility at a minimal cost in furtherance of India's aspiration to be a fully digital society.

Also read/watch | Infosys takes a stand on Ukraine war, exits Russia ops

UPI has achieved a record milestone of 5 billion transactions in the month of March. As per data from the NPCI, the platform saw transactions worth Rs 8.88 lakh crore in March, which is a 7.5% jump from the previous month. The payments mode has broken multiple records in the past two years and is now inching closer to Rs 9 lakh crore in monthly transaction values. For the fiscal year gone by April-March, UPI registered transactions over $1 trillion or approximately Rs 75.82 lakh crore.

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