Facebook-owned WhatsApp is looking to enter into the digital payments segment by integrating a UPI-based P2P money transfer system for easy transfer of money claims some reports.
WhatsApp, earlier this year suggested that the company is looking into the digital payments system in India to help people bail out the cash crunch situations. WhatsApp will partner with certain banks to roll out the service initially.
It was also reported that the instant messaging platform was ready to roll out the services, but the change in RBI guidelines last month forced the company to change its plans and to work on a new business model.
If WhatsApp ever enters the digital payments segment, it will surely change how the sector currently in India.