No fee will be charged for sending money via WhatsApp: Mark Zuckerberg

No payment will likely be charged when sending cash by way of WhatsApp, stated Facebook CEO Mark Zuckerberg on Thursday (native time) following the nod by National Payments Corporation of India (NPCI) for WhatsApp to go reside on UPI within the multi-bank mannequin.

Speaking by a video assertion, Zuckerberg stated that will probably be supported by greater than 140 banks.

“Now you can send money to your friends and family through WhatsApp as easily as sending a message. There’s no fee, and it’s supported by more than 140 banks. And because it’s WhatsApp, it’s secure and private too,” he stated.

He additional stated that the funds will likely be obtainable in 10 Indian regional language variations of WhatsApp. “All you need is a debit card with a bank that supports UPI and you can set it up straight away. You can find it in the latest version of WhatsApp,” he stated.

“We’ve been working on this with the National Payments Corporation of India, who oversee everything to make sure it’s secure and reliable. And we’ve built it using India’s Unified Payments Interface, which makes it easy for anyone to instantly accept payments across different apps — and for companies to provide people with great services,” he added.

“When people can access financial tools, they’re more empowered to support themselves and others, or start a business. Long term, we need more innovation that gives people control over their money, and making payments easier is a small step that can really help,” he stated whereas including that India is the primary nation to do something like this.

On November 5, the NPCI had acknowledged that WhatsApp can increase its UPI consumer base in a graded method beginning with a most registered consumer base of 20 million in UPI.

NPCI was included in 2008 as an umbrella organisation for working retail cost and settlement methods in India.