• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Jobs
  • Career
    • Cyber Security Training
    • Work from Home
    • Cyber Security Analyst
    • Remote Work – Six Ways to Keep Your Data Safe When Working Remotely
  • Field Guide
  • Newsletter Signup
  • Deals
  • News
AskCyberSecurity.com

AskCyberSecurity.com

Cyber Security News & Information

  • Home
  • Data Privacy
    • Gamers
    • Government Cyber Security
      • Legislation
      • Standards
        • What are the risks of computer security?
        • Medical Cyber Security
    • Social Media
  • Security
    • Data Breaches
    • Scams
    • Malware
  • Software
    • Apps
    • Web Browsers
  • Glossary
    • Cyber Security Acronyms
  • About Ask Cyber Security
    • Authors
    • Contact Us
  • VPN
    • How Do I Know If My VPN is Working?
    • Best Free VPN iPhone
    • Why Use a VPN?
    • NordVPN vs IPVanish
    • Private Internet Access Download
    • Best VPN for Streaming
      • TikTok VPN
    • VPN Porn
    • Computer Security Software – What You Really Need
  • Tutorials
  • ChatGPT
    • Does ChatGPT Save Data?
AskCyber Home » News » News » India Approves WhatsApp Pay

India Approves WhatsApp Pay

2020-12-29 by Michelle Dvorak

WhatsApp Pay India

WhatsApp Pay Instant payments go live in India after beta test

WhatsApp Pay, an instant payment service, is now available to users in India. The peer-to-peer money transfer service works with five banks in India and requires two levels of authentication. The service went live on 16 December.

WhatsApp Pay is convenient because the recipient does not need to have the app on their phone. They only need to have an account at one of the participating banks.

The Reserve Bank of India (RBI) is working to extend digital payments to more people – even to those who do not have bank accounts. To comply with RBI regulations, nonbanks must register as a payment transfer agent. For security reasons, the app technology store data locally and comply with know your customer or know your client (KYC) requirements. With KYC banks must Aadhaar-based verification number and PAN as ‘proof of identity and proof of address’ together with a recent photograph. A video system is now available.

The instant payments service uses the Unified Payments framework developed by the National Payments Corporation of India (NCPI).  At first, the payment service will be limited 20 million users, according to a post on EconomicTimes. One millions users had participated in the beta version of the payment system,

Other social media apps already provide payment services for their users.  Tencent’s WeChat offers WeChat Pay and Alibaba Group offers Alipay. Payment apps always have snags when it comes to international transfers. WeChat Pay only works with a mainland China bank account.

Walmarts’ PhonePe app is the most widely used payment app in India.

June of this year India banned 58 Chinese apps including TikTok and WeChat The move came after a border skirmish between Indian army troops and Chinese troops. Fastenal later the Indian Army banned Facebook along with 88 other apps due to security concerns.

WhatsApp is owned by parent company Facebook.

WhatsApp Pay works with

  • ·       ICICI Bank
  • ·       HDFC Bank
  • ·       Axis Bank
  • ·       State Bank of India
  • ·       Jio Payments Bank

 WhatsApp Pay Security Doubts

Social media users are often careless with the ways they use social media apps. For example, sharing personal details, even in the form of photos, on social media can lead to identity theft and financial theft.

People use the same login credentials for social media that they do for their bank accounts or workplace accounts. That means if a hacker compromises your WhatsApp or TikTok then they may also be able to get into your online banking app and steal your money.

WhatsApp Pay users will user a PIN number along with two-factor authentication to help bolster security.

Filed Under: News Tagged With: India, WhatsApp

About Michelle Dvorak

Michelle writes about cyber security, data privacy focusing on social media privacy as well as how to protect your IoT devices. She has worked in internet technology for over 20 years and owns METRONY, LLC. Michelle earned a B.S. in Engineering from Rensselaer Polytechnic Institute. Michelle published a guide to Cyber Security for Business Travelers


LinkedInTwitterFacebook

Primary Sidebar

Subscribe to Our Free Newsletter

We Don't Share or Sell Your Info

Web Browsers

Where Are My Saved Passwords in Chrome?

Google Removes 70 Malicious Browser Add-ons from Chrome Web Store

Firefox 75 Reports Your Browser Settings to Mozilla

Categories

Cyber Security Field Guide

Computer Security While TravelingGet Our Cyber Security Field Guide - Available on Amazon!

Recent Posts

Security Marketing Manager – Remote

Sr. Associate, Cybersecurity Architect – Pfizer

Strategic Customer Success Manager – Cybersecurity – Opportunity for Working Remotely

Top 20 Passwords Leaked on Dark Web

ISU Cybersecurity Leader Job Opening

Cyber Security News

Top 20 Passwords Leaked on Dark Web

… [Read More...] about Top 20 Passwords Leaked on Dark Web

Apple Warns of Actively Exploited Zero-Day Flaw

… [Read More...] about Apple Warns of Actively Exploited Zero-Day Flaw

IRS Stops Facial Recognition System for Online Access

… [Read More...] about IRS Stops Facial Recognition System for Online Access

National Cybersecurity Alliance Announces Data Privacy Week

… [Read More...] about National Cybersecurity Alliance Announces Data Privacy Week

More Cyber Security News

Tags

amazon Android Apple bitcoin China chrome CISA credit card DarkSide DHS DOJ Equifax Europe Facebook facial recognition FBI Firefox FTC games GDPR Google Government hacker identity theft India iPhone Iran IRS LinkedIn Microsoft North Korea PayPal phishing phishing email ransomware REvil Russia smartphone T-Mobile TikTok tutorial VPN WhatsApp WiFi Windows

Government

CBP Looks to Access Airline Passenger Data

FTC Releases Cyber Threat Video Playlist

Malware Found on US Government Funded Phones

UK NCA Reaches Out to Youth to Deter Cybercrimes

More Posts from this Category

Footer

Menu

  • Home
  • About
  • Authors
  • Newsletter Signup
  • PRIVACY POLICY

Search

Why Use a VPN?

NordVPN vs IPVanish VPN Review

NAVIGATION

  • Data Breaches
  • Data Privacy
  • Gamers
  • Scams
  • Malware

MEMBER NJCCIC

New Jersey Cybersecurity & Communications Integration Cell

STAY CONNECTED

  • Facebook
  • Instagram
  • Pinterest
  • YouTube
  • Twitter
  • RSS

Copyright © 2023 · AskCyberSecurity.com · METRONY, LLC

Go to mobile version