WhatsApp Pay is partnering with banks for a broader rollout in India

WhatsApp’s global head Will Cathcart said the Facebook-owned encrypted messaging app is partnering with banks and financial institutions as it rolls out its payment service in a phased manner across India.

The National Payment Corp of India allowed WhatsApp to go live with its Unified Payments Interface (UPI) platform under the multi-bank model last month in a graded manner, starting with a maximum registered user base of 20 million, even though the app has 400 million users in the country.

“We are partnering with banks and financial institutions so people can get help and services without entering a local branch. Even as WhatsApp has become a way for hundreds of millions of people in India to communicate we feel we are just getting started,” Cathcart said on Tuesday during a virtual Facebook event.


He added that by working through local partners WhatsApp can continue to play an important role in expanding financial inclusion and economic opportunity for everyone in India.

“Sending money should be simple, easy, and secure. Digital payments give people a way to help one another, to create a world where micro and small businesses are the backbone of the economy,” he said.

WhatsApp’s payments feature, WhatsApp Pay, is designed to run on UPI, developed by NPCI. The feature allows transfer of funds to individuals as well as business transactions through bank accounts.

Facebook is betting on messaging commerce-enabling customers to shop online using WhatsApp and integrating payments with it. It is aimed largely at developing countries. It is increasingly looking at India as a “vanguard” for product innovations and investments.