Samedi, 11 Juillet 2020
Dernières nouvelles
Principale » Google Awaiting RBI Approval to Begin UPI-Based Android Pay Services: NPCI

Google Awaiting RBI Approval to Begin UPI-Based Android Pay Services: NPCI

11 Juillet 2017

While Google remains mum on the subject, AP Hota, MD and CEO, National Payments Corporation of India (NPCI) revealed that Google has completed UPI system testing and it will be launched soon after the Reserve Bank of India (RBI) gives a green light to the service. While NPCI's payment interface Unified Payments Interface has 25 million downloads in India, number of Facebook users stand in excess of 213 million in India, with another 200 million WhatsApp users across India.

Post demonetisation, the government has been actively pushing digital payments and platform like the UPI and BHIM.

"We are always looking for ways to make it easy for people to pay with their mobile devices, for instance Android Pay in some countries, and continually evaluating ways to expand those capabilities to the next billion users", said a Google spokesperson. For example, Amazon, which is already breathing down Flipkart's neck to become India's largest ecommerce company, is planning to launch mobile recharges and bill payments through Amazon Pay.

Officials said while Google could have a separate app with its Android Pay application, the other two will integrate with their instant messaging - Facebook Messenger and WhatsApp.

Also admitting that the growth has come down and plateaued, he said, "Unless it is picked up it will be hard and digital payments needs to be propagated very strongly".

Associated Banc-Corp (NYSE:ASB) Broker Price Targets For The Coming Week
Retail Bank Of Stockton holds 18,097 shares. 04/11/2017 - Banc of California, Inc. was upgraded to " by analysts at Wells Fargo. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.28 by $0.01.

"As far as WhatsApp is concerned, discussions have commenced, it requires a series of discussions".

"Google, Facebook and Whatsapp are very big players". Since then, Facebook has gradually allowed users in the U.S. to transfer money between groups of the people on the app. Earlier, reports had indicated that WhatsApp will jump into India's digital payments market that has seen a phenomenal rise over past few years. Online merchants like Amazon and Uber are also in final stages of testing before enabling customer make payments using UPI, Hota added. He added that Amazon was currentl testing for the same, while Uber is still conducting the process.

"As a technology driven company, we applaud the potential and impact that fin-tech innovations like UPI can make". The NPCI recently said that UPI clocked monthly transactions of over 1 crore last month indicating higher participation from banks and private players.

UPI-enabled apps allow transactions to be done through any smart phone using VPA (Virtual Payment Address).

Google Awaiting RBI Approval to Begin UPI-Based Android Pay Services: NPCI