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WhatsApp payment service to be launched soon in India, says report

WhatsApp payment service to be launched soon in India, says report

WhatsApp payment service to be launched soon in India, says report
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By CNBC-TV18 Jul 17, 2019 8:16:41 PM IST (Published)

While the payments offering has been in beta mode since early 2018, the report said that nationwide debut has been delayed due to various reasons including government regulations.

Facebook may soon launch its long-delayed WhatsApp payments service in India, reported Bloomberg. People close to the development told the media that the social networking giant has already wrapped up an audit of related data practices.

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While the payments offering has been in beta mode since early 2018, the report said that nationwide debut has been delayed due to various reasons including government regulations.
WhatsApp, the report said, is required to show a third-party auditor that all data involved in payments will be stored on servers within the country. As per the sources who spoke to the media, the tech giant is preparing to submit the report for approval to the RBI.
However, the going will not be smooth for the tech giant as it will have to face stiff competition in a market that is already seeing the presence of big names such as Amazon Pay and Paytm. With rivals already having a firm footing in country’s digital payment field Whatsapp may end up playing catch up.
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