The National Payments Corporation of India (NPCI) allowed WhatsApp to double the number of users on its payment platform in India to 40 ,million people, according to an NPCI note.
Previously, the Facebook-owned instant messaging service requested that the government remove the user cap on its payment service. Now, the The National Payments Corporation of India has agreed to gradually increase its user base, which is currently limited to 20 million people. According to an earlier notification issued by the body, no single third-party payment app may control more than 30% of transactions on the UPI platform. Despite the fact that PhonePe and Google Pay account for 47% and 34%, respectively, they have been given until December 2023 to comply with the restriction.
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The Entrepreneur Today Desk