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WhatsApp Pay
November 9 , 2020
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- The National Payments Corporation of India (NPCI) has allowed Facebook-owned messaging platform WhatsApp to start its payments service in the country in a ‘graded’ manner.
- WhatsApp has partnered with five banks namely ICICI Bank, Indian Bank, Axis Bank, HDFC Bank, State Bank of India.
- Apart from these five banks, Jio Payment Bank has also been included.
- Unified Payments Interface or UPI is an immediate real-time payment system developed by the National Payments Corporation of India (NCPI).
- It was introduced in April 2016 as a pilot project.
- It is regulated by the Reserve Bank of India (RBI).
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