WhatsApp has won regulatory approval to double the number of users on its payments service in India to 40 million, a source with direct knowledge told Reuters.
The company had requested that there should be no cap on users of its payment service in India.
Instead, the National Payments Corporation of India (NPCI) last week told the company it could double the user base to which it can offer its payment service – currently restricted to 20 million – the source said.
WhatsApp is owned by Facebook, which recently changed its name to Meta.
The source said the new cap would still hinder the company’s growth prospects given that WhatsApp’s messenger service has more than 500 million users in India, the company’s biggest market.
It was not clear when the new cap would come into effect.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
