WhatsApp Payments 'Not Secure', versus UPI's Interoperability Spirit: Paytm

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collected by :Molly Tony

WhatsApp payments rollout started in India earlier this 30 days and though the feature hasn't even become obtainable to all users yet, it has sparked a debate in the country's digital payments community. Paytm, that operates the largest digital wallet in India, is 1 of the competitors to whatsapp apps in payments, introduced its own Unified Payments Interface payments feature recently. Paytm CEO Vijay Shekhar Sharma told that Facebook with whatsapp apps payments Facebook is "killing Pretty unlock Unified Payments Interface system with its custom lock garden implementation." In the garb of UX and UI, it's being packaged as whatsapp apps to whatsapp apps payments," he continued. National Payments Corporation of India (NPCI)has been workingto facilitate digital payments in the country with globally recognised products like Bharat Interface for Money BHIM -Unified Payments Interface (BHIM UPI).


WhatsApp Payments vs Google Tez: Both Utilize Unified Payments Interface however it's advantage WhatsApp

In India, whatsapp apps Payments going to be directly competing versus the likes of Paytm, Mobikwik and Google Tez. -- WhatsApp's overall popularity gives it a boost over new players like Google Tez which is continue new and continue working to establish a consumer base. Google Tez, on the other hand, is less likely to cause such statuses as it does not come with a messenger. However, without features like bill payment, whatsapp apps Payments is limited. It going to be interesting to see how Tez grows amidst existing competition like Paytm and new challengers like whatsapp apps Payments.

WhatsApp Payments vs Google Tez: Both use UPI but it's advantage WhatsApp




WhatsApp Payments to be widely obtainable only after it meets all norms: NPCI

as mentioned in Vijay Shekhar Sharma, the founder of Paytm, an India based payments platform, had soon raised concerns about whatsapp apps Payments violating Unified Payments Interface norms. Paytm againest whatsapp apps PaymentsIn a tweet posted final week, Vijay Shekhar Sharma had called out whatsapp apps for being a "custom lock (sic) garden implementation". To address those concerns, NPCI had issued a statement on Friday, saying, "Currently, NPCI has given its consent to roll out whatsapp apps BHIM Unified Payments Interface beta launch with limited consumer foundation of 1 mn and low per transaction limit,". Further clarifying, the NPCI statement told which the final launch of whatsapp apps Payments going to be allowed only if it meets BHIM Unified Payments Interface principles of interoperability, the ability to send/receive money out of any Unified Payments Interface ID, and reading/generating ability of BHIM/Bharat QR codes. It going to be interesting to see how the whatsapp apps Payments feature looks like at final release, and if/when the Facebook-owned application implements a login ID/password authentication system.





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