Uber and Amazon are the latest to adopt the Unified Payment Interface (UPI). Managing Director and Chief Executive A.P. Hota, Google is in advanced talks with NPCI to integrate its digital payment service, Android Pay, with UPI. Since then, Facebook has gradually allowed users in the U.S. to transfer money between groups of the people on the app.
Hota did not provide a timeline as to by when WhatsApp payments would be live on UPI. The government launched BHIM app which transfers money between different bank accounts.
Back in 2015, Facebook announced peer-to-peer payments on its Messenger app.
Facebook and WhatsApp are expected to integrate the payment method with their instant messaging.
To boost usage, NPCI has already got players such as messenger platform Hike and Truecaller, to allow UPI based fund transfer.
An Uber spokesperson told Inc42, "We are now evaluating the possibilities around a comprehensive UPI integration and continuing to engage with the relevant stakeholders".
"As a technology-driven company, we applaud the potential and impact that fin-tech innovations like UPI can make".
Hota had, in an earlier briefing expressed dissatisfaction over the lack of enthusiasm for UPI shown by some Indian banks.
The number of transactions under UPI was around 26 million in the first quarter of the fiscal year, short of the 40 million target set by the finance ministry, data from the National Payments Corp of India (NPCI), which manages the payment railroad, shows.
WhatsApp and Facebook are also looking to launch with UPI in India but they are still in the discussion phase. While Facebook had 213 million users in India in April 2017, WhatsApp had around 160 million. So far, private players have been partnering with single banks to offer UPI payments.
Overall digital transactions, which in many cases doubled after demonetisation, has corrected and is expected to attain a new normal of around 30-40% growth over transaction volumes a year ago. It is now supporting over 30 banks. This year, it is aiming to contribute about 11 Bn digital transactions.