WhatsApp will push more interbank transfer service in India

According to the gadgets, on February 17 reported that the Indian state payment company said that the application of Facebook WhatsApp will test the multi-bank BHIM UPI in India, involving 1 million users. A total of four banks will join the multi-bank BHIM UPI model in phases (in the coming weeks) and will open all the features once the beta test is successful. Multi-bank model to provide a more convenient transfer between banks and other services.

With more than 200 million users in India, WhatsApp introduced a limited-edition new service in the country last week that used the mobile phone number of the bank account to pay for event delivery, marking the first time that WhatsApp has tried to make a global move Service market. According to the application documents, India’s third-largest bank, ICICI Bank, currently handles the transfer service on the WhatsApp platform.

Narendra Modi, the Indian Prime Minister, banned large denomination of old currency at the end of 2016, boosting online payment service providers such as local company Paytm. Paytm is currently the largest online payment service provider in India. Paytm backers include Alibaba Group (NYSE: BABA) and Japan’s Softbank Group, Paytm said in a statement Friday that it is concerned about the security of WhatsApp, the new payment service.