The National Payments Corporation of India (NPCI) today has accorded its consent to roll out WhatsApp BHIM UPI beta launch with limited user base of one million and low per transaction limit. Four banks will join the multi-bank BHIM UPI model in the coming weeks and full feature product shall be released after the beta test is successful, NPCI said in a release. Set up in 2009 as the central infrastructure for various retail payment systems in the country and envisaged by the Reserve Bank of India as a payment utility, NPCI has been working to facilitate digital payments in the country with globally recognised products like Bharat Interface for Money BHIM-Unified Payments Interface (BHIM UPI).
“We follow well-defined guidelines for BHIM UPI services with the objective of making our platforms interoperable and based on open standards, convenient and secure, offering multiple choices to consumers for rapid adoption for digital payments through banks and payment ecosystem players,” the statement said.
Source by financialexpress..