WhatsApp Pay: Paytm founder accuses WhatsApp of unfair play
By MYBRANDBOOK
Paytm’s Founder Vijay Shekhar Sharma has kicked up a storm by having accused WhatsApp that has recently begun testing its payment service in the country of an unfair playing field. Paytm is said to be petitioning for redressal to the country’s unified digital payment system (UPI).
Sharma said he will approach the National Payments Corporation of India (NPCI), which has developed the UPI system, and even higher authorities to highlight the issue that WhatsApp trial service does not require a log-in session and Aadhaar-based payments.
Owned by Facebook, WhatsApp boasts a monthly user base of 200 million in India and its entry into the country’s digital payment space is seen as a threat to the likes of Paytm. Sharma told a publication that ‘Facebook is openly colonizing the country’s payment system and is customizing UPI to their benefit. “UPI was built as an India Stack, now some American monopoly arm-twists UPI for customer implementation,” he said.
Sharma points out that WhatsApp is used by gullible Indian consumers far more than any other application in this country and that the lack of a login makes WhatsApp payments a security risk, akin to giving an “open ATM” to everyone.
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