Facebook-owned WhatsApp plans to introduce a digital payment service in India. As part of the process, the country is reviewing an audit report from the company.
The aim of the review is to ensure WhatsApp will comply with local rules. If the localized compliance audit report’s content is deemed acceptable, then the rollout of the services is one step closer, Bloomberg reports.
Having confirmed that it had received the audit report, a representative of the National Payments Corporation of India, the umbrella organization for all retail payments in the country, stated that it would review the report in the next few weeks.
Faceboook is not the only tech titan to have entered the Indian digital payment market. Google and Amazon are among the businesses offering digital payments solutions in the nation. The market is expected to grow to $1tn by 2023.
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