With the NPCI removing the cap on onboarding, Meta is now able to enroll more users onto WhatsApp Pay.
Meta’s WhatsApp Pay, a UPI-powered payment service, has been available for some time, but its user base was previously restricted by a cap set by the National Payments Corporation of India (NPCI). With this cap now lifted, WhatsApp can onboard an unlimited number of users to its payment service.
In an official statement, NPCI explained, “Earlier, WhatsApp Pay’s user base expansion was permitted in phases. With this update, the platform can now offer UPI services to its entire user base across India.”
The initial restriction was implemented to address concerns about security and performance. Under these limitations, Meta could onboard a maximum of 100 million users for WhatsApp Pay in 2022.
WhatsApp Pay allows users to send and receive money within the app seamlessly. It also supports interoperability, enabling users to transact with others using apps like PhonePe and Google Pay.
Furthermore, NPCI has postponed the implementation of a 30% market share limit for UPI service providers by an additional two years. This extension, until at least December 2026, benefits platforms like PhonePe, which currently dominates the market with over 47% share, as well as other players like Google Pay, Paytm, and WhatsApp Pay.
