Facebook CEO Mark Zuckerberg entered the fray two years ago by enabling the popular messaging service WhatsApp to send and receive money in India.
WhatsApp needs a nod from the regulator, the National Payments Corporation of India, to throw open the switch
While Facebook deserves scrutiny globally for providing a platform for hate speech, voter manipulation and dissemination of untruth, cashless transfers is one area where WhatsApp can be a force for good.
Roadblock
WhatsApp needs a nod from the regulator, the National Payments Corporation of India, to throw open the switch.
In February, a little-known think tank filed a lawsuit, asking India’s supreme court to block payments on WhatsApp “since it’s known to have failed to secure sensitive data of its users”.
Jio’s 4G network is India’s biggest, with nearly 400 million customers
Facebook recently took a 10% stake in Mukesh Ambani’s Jio Platforms for US$5.7-billion.
