Great news for WhatsApp users! You can now make UPI payments directly through WhatsApp. The National Payments Corporation of India (NPCI) has recently removed restrictions on how many users can sign up for WhatsApp Pay. This means that WhatsApp can now offer its payment service to all its users in India.
Previously, there were limits on how many people could start using WhatsApp Pay. This was done to carefully monitor how the service performed and to address security concerns related to online payments. By allowing users in smaller groups, WhatsApp was able to improve its service without facing risks.
In November 2022, WhatsApp was allowed to provide its payment service to 100 million users. Now, it can cater to the full 500 million users in India! This change comes alongside an extension from NPCI, which has pushed back the deadline for a market share limit on UPI apps to December 31, 2026. Under these rules, no single app can handle more than 30 percent of the total UPI payment market.
A spokesperson for WhatsApp expressed the company's commitment to making payments on the platform simple, reliable, and secure. They stated that the goal is to add value and convenience to users' lives through various use cases, such as bill payments, ticket booking, and shopping. They emphasized the aim to accelerate digital payments and UPI adoption while continuing to contribute to India's digital and financial inclusion agenda.
In other news, the Reserve Bank of India (RBI) has announced an increase in the daily transaction limit for UPI123Pay, a service tailored for feature phone users. A deadline has been set for December 31, 2024, and should this deadline not be extended, starting January 1, users will be permitted to make payments of up to Rs 10,000 per day via UPI123Pay, an increase from the previous limit of Rs 5,000.
With UPI123Pay, users can now transfer up to Rs 10,000 to any other UPI user. In contrast, the transaction limit for smartphone applications such as PhonePe, Paytm, and Google Pay remains unchanged, allowing for UPI transactions of up to Rs 1 lakh per day. It is noteworthy that for medical emergencies and similar situations, this limit has been elevated to Rs 5 lakh.
