Messaging service WhatsApp will open a money transfer service in India, after testing it with a million users, the National Payments Corp of India said last week.
WhatsApp, which currently has over 200 million users in India (making that country WhatsApp’s biggest market), has launched a “limited” service that makes use of a customer’s phone number, linked to their bank account, to initiate payments.
Four banks in India have joined the payments service so far, including ICICI Bank, which processes the transfers for the app.
The WhatsApp platform is currently owned by Facebook.
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