WhatsApp raises concerns over delay in payment business approval
RBI wants all payment system operators to ensure that the data related to payments is stored only in India
- Dec 12, 2018,
- Updated Dec 12, 2018 2:49 PM IST
Facebook owned messaging platform, WhatsApp, has raised concerns regarding the delay in getting an approval for its payment business proposal in India. RBI, in its response, has asked National Payments Corporation of India (NPCI) and the Ministry of Electronics and Information Technology (MeitY) to share their standpoint on the matter.
In response to RBI's letter to the MeitY, a senior official of the ministry said that the concerns it had with WhatsApp Payments have already been raised with NPCI and RBI.
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Facebook owned messaging platform, WhatsApp, has raised concerns regarding the delay in getting an approval for its payment business proposal in India. RBI, in its response, has asked National Payments Corporation of India (NPCI) and the Ministry of Electronics and Information Technology (MeitY) to share their standpoint on the matter.
In response to RBI's letter to the MeitY, a senior official of the ministry said that the concerns it had with WhatsApp Payments have already been raised with NPCI and RBI.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine