The National Payments Corporation of India (NPCI) on Wednesday has approved an additional 60 million users on UPI for the Facebook-owned messaging platform WhatsApp.

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With this approval, WhatsApp will be able to expand the service to its 100 million users.

WhatsApp has a total user base of 400 million and the development will help the platform compete better with entrenched rivals like Google Pay and Phone Pe.

There are a total of 25 third-party application providers, including WhatsApp, which have been allowed to provide the service of payments on the Unified Payments Interface (UPI), as per the NPCI website.

ICICI Bank, Axis Bank, HDFC Bank and SBI will be acting as WhatsApp's payment service provider (PSP) banks.

NPCI runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants' end while making purchases.

(Edited by : Jomy Jos Pullokaran)

First Published:Apr 13, 2022 11:01 PM IST