UPI payments are occupying a significant space in our lives in the current digital context. WhatsApp Pay, which was only available to selected users, now has the potential to increase its scope across the Indian subcontinent. Just a few days ago, the National Payments Corporation of India (NPCI) lifted the cap on WhatsApp leg of the payment instrument. This is indeed an important step towards greater implementation of UPI.
User Limit
Previously, NPCI had allowed WhatsApp Pay to expand the user count in a phased manner, starting with a certainly low limit up to 1 million then up to 100 million in 2021. This limit has now extended to a billion users all across the globe.
The lifting of this limit confirms that the infrastructure supporting UPI has never been in a better shape than this. As reported by NPCI, Indian users of WhatsApp Pay will now be able to access its services without any forms of blockage.
Impact of WhatsApp Pay
Meta has pumped a significant amount in WhatsApp Pay and slowly it is expected to capture the UPI market. Currently, PhonePe and Google Pay dominate the UPI market space around the globe. As at November, PhonePe controlled 47.8% and Google Pay, 37% market .
The growth of WhatsApp Pay will not only add more options for users, but also competition in the UPI market. This will probably improve service delivery and offers to clientele.
Future of WhatsApp Pay
Because of the design of WhatsApp Pay and the number of people who uses WhatsApp, it is envisaged that it can be more popular in UPI payment segment. It will compete with other platforms alongside providing users with secure and easy ways to make payments.
Major App of UPI market
At present, PhonePe and Google Pay control the UPI market. Together they processed a total of 13.1 billion transactions in November 2024. There are also other players in the market like Paytm, Amazon Pay, Navi, Cred.
