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25Jul By PriyankaNo Comments

INDIA

WhatsApp to roll out payments service in India later this year

WhatsApp, which has over 400 million users of its messaging service in India, plans to roll out its much-awaited payments service in the country later this year, more than a year after it began testing the offering here. The Facebook-owned company has been testing its payments service in the country since last year with about a million users, but could not launch full-fledged services as it has been awaiting regulatory approvals. Speaking at an event here on Thursday, WhatsApp Global Head Will Cathcart said the company's vision is to make sending money as easy as sending messages on the platform. "We built payments based on the UPI standard, partnered with banks here in India... We believe that if we did this right, it will accelerate financial inclusion and bring more people in I...

Using This Service, You Can Send Multiple Currencies in One Click

InstaReM, Southeast Asia’s leading money transfer service, has introduced a new feature to its money transfer platform that enables Small & Medium Business (SMB) users to make payments in multiple currencies in one go. Businesses making regular payments overseas to vendors, suppliers and service providers, can now do so more quickly, transparently and at Zero-Margin FX Rates with InstaReM. Until recently, the business customers making multiple payments had to set up individual transactions for each payment and execute them one by one, requiring additional time and effort. With the ability to set up multiple transactions in one go, a business user can now make transfers to multiple beneficiaries in multiple currencies at the click of a button. There are no setup fees or month...

WhatsApp Claims to Share Only Limited Payment Data With Facebook

The well-known messaging app Whatsapp has stated that it shares only limited data of payment service with its owner firm Facebook and the parent company does not utilize the data for the commercial purpose. The messaging app has been lately working on its payment feature had to postpone the launch due to the ongoing Facebook data scam. Whatsapp payments service has partnered with UPI to launch an in-app payment service on its platform and, at present, is in beta version in India. Its users are concerned how much of their information is being shared with Facebook and how is the social media using it. This is the reason why WhatsApp has been compelled to put up an explanation in this regard. On its official website, Whatsapp claimed, "Facebook does not use WhatsApp payment information fo...