NPCI gives approval for WhatsApp to go live on UPI in graded manner

Maximum 20 million user base initially; NPCI puts 30 per cent cap on third party apps’ share of UPI transactions

The National Payment Corporation of India (NPCI), which manages Unified Payment Interface (UPI), has decided to allow Facebook backed messaging service WhatsApp to go live on UPI in the multi-bank model. WhatsApp can expand its UPI user base in a graded manner starting with a maximum registered user base of 20 million in UPI, NPCI said in a statement today. Though the condition of 20 million will be a dampener, it is some relief for WhatsApp, which began its pilot run two years ago, while it awaited regulatory clearances to launch its UPI-based payments for its 400 million users in India. In August, NPCI had informed the Reserve Bank of India (RBI) that WhatsApp had met data localisation requirements.

In a related development, NPCI has capped the share of total number of transaction that a third party application can process at 30 per cent of total volume of transactions processed in UPI, effective January 1,2021. “…with UPI reaching 2 billion transactions a month and with potential for future growth, it has issued a cap of 30 per cent of total volume of transactions processed in UPI, applicable on all Third Party App Providers (TPAPs)”, NPCI said.

NPCI has said, the cap of 30 per cent will be calculated basis the total volume of transactions processed in UPI during the preceding three months (on a rolling basis). And, the existing TPAPs who have exceeded the cap, will have a period of two years from January 2021, to comply with the same in a phased manner…

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