WhatsApp Builds System to Store Payment Data Compliant with Indian Regulation

WhatsApp Builds System to Store Payment Data Compliant with Indian Regulation

WhatsApp recently disclosed in an email that it has built a system to store the payment data of Indian users domestically, in compliance with the Reserve Bank of India’s new directive.

It is said that by complying with India’s storage norms, the Facebook-owned messaging firm could present a threat to entrenched players like SoftBank and Alibaba’s Paytm.

Meanwhile, sources have said that Mastercard, Visa, PayPal, Google, Amazon and Facebook had met with Indian Finance Minister Arun Jaitley last week to get an extension of the deadline for local storage of payments data.

Source: Reuters

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