The founder of biggest digital payments firm of India Paytm, Vijay Shekhar Sharma, will formally request the designer of the nation’s UPI (unified digital payment) system for redressal of what he defined as an unjust playing field given to WhatsApp, the messaging service provider that has started trialing its payment offering in the nation.
WhatsApp test service rolled out last week in India and does not need an Aadhaar-supported payments and a log-in session. Sharma claimed that he will ask the NPCI (National Payments Corporation of India), which has designed the UPI system, and even higher executives to underline this problem. Controlled by Facebook, WhatsApp consists of a monthly consumer base of 200 Million in the country and its entrance into the digital payment sector of the country intimidates to turn over the pecking sector.
“Facebook is explicitly colonizing our transaction system and is customizing UPI to their advantage. UPI was created as an India Stack, now some US monopoly twists UPI for user execution,” Sharma claimed to the media in an interview. Sharma claimed that lack of a login coverts WhatsApp traction into security jeopardy, similar to offering an “open ATM” to everybody. “How can you offer such a safety risk just on behalf of underwriting that banks have offered it. WhatsApp is employed by a huge number of Indian users far over any other app in this nation,” claimed Sharma.
He also queried the fact that the app was permitted to began a pilot with lakhs of users, while it must have been with 5,000–10,000 users. People near to NPCI have claimed that it will put into practice all the needed functions when it goes live for its complete user base, which is anticipated by March end.
Executives for Paytm verified that vice-president of WhatsApp, Neeraj Arora, has taken back from the panel of Paytm, a position that he held from 2015.