WhatsApp Pay to comply with all rules in India by May

New Delhi: WhatsApp’s payment business will comply with all local rules mandated by the banking regulator for payment companies by May, the Facebook-owned instant messaging platform has told the National Payments Corporation of India (NPCI), ET has learnt from people familiar with the development.

A full-fledged rollout of WhatsApp Pay has not been approved for over two years due to concerns over its data storage policy in India and over sharing of that data with its parent entity. In February, a plan to allow WhatsApp Pay to increase the number of users in a pilot project, from 1 million to 10 million, did not take off.