There are many important points of consideration on which WhatsApp’s payment service doesn’t comply.
WhatsApp has been pulled into the limelight since the real-time messenger platform was granted a UPI-based payments feature since last few weeks. While the payments feature was seen by consumers as a feature that would change the way users use WhatsApp, several rival digital payments services have pointed out many exceptions that have been applied to WhatsApp’s service.
Paytm CEO Vijay Shekhar Sharma recently took to Twitter to convey his displeasure, stating that WhatsApp was playing an unfair game by skipping on most of the essential features that every digital payments service had to abide by. While many other digital payment services had broken silence on the matter by leaning towards Paytm’s stand, WhatsApp has yet to comment anything on the matter.
WhatsApp’s payment service utilises the same UPI platform that other payment services use. Paytm has given out some basic pointers that every UPI-based payment service has to abide by. Following are some of the noteworthy requirements that are absolutely necessary in order to operate a digital payment service legally using NPCI’s UPI code in India.
Apart from these mandatory issues, there are some more features that WhatsApp’s payment service misses out on:
While most of the above mentioned requirements are missing from WhatsApp’s latest payments service, it should be kept in consideration that WhatsApp’s payment service is still in the testing phase. Therefore, most of the requirements missing now from the service could be added by the time the service rolls out officially to all users. There could also be a possibility that the system could be pulled out and redesigned before the public rollout of the WhatsApp’s payment feature.
Stay tuned for all the developments related to the WhatsApp payment controversy on Deccan Chronicle Technology.