Amid the ongoing chaos over the WhatsApp spyware attack, the Indian government is now looking to discuss with Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) about the risks of allowing social media companies to offer online payment services. The development comes after WhatsApp reportedly said it informed the Indian government in September that 121 Indian users were targeted by the Israeli tech company NSO group’s spyware Pegasus.
WhatsApp Payments’ launch has been delayed owing to data compliance concerns and regulatory norms in India. Facebook CEO Mark Zuckerberg recently assured the service would be launched in India soon. The social media giant has for long been in the process of testing the payments service which will be operationalised in the country in the coming days, he said, without giving any specific timeline for the launch.
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WhatsApp Pay as and when launched, would compete against the likes of Paytm, PhonePe and Google Pay.