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Paytm accusing WhatsApp of unfair play in digital payments!
To understand more, Deepak Abbot, Senior Vice President at Paytm, to give a detailed account of the company's objections to WhatsApp's payments implementation.
"I want to stress that this is not Paytm versus WhatsApp, this is not India versus foreign," were the first words from Abbot, who explained that as far as Paytm was concerned, the issue was that the NPCI had allowed WhatsApp to add UPI features without requiring it to conform to the same rules as other apps, including Paytm. Gadgets 360 has also reached out to the NPCI to get its views on this question, and will update this piece once it replies.
"All apps so far had to adhere to a process by the NPCI, to create a smooth, interoperable experience that is not being required of WhatsApp," Abbot said. "NPCI requires an app password, so unless you log in no one can check your account, you should be able to log out. Now you still have the MPIN to complete the transaction but with just one factor now someone can make payments. You can't even log out. So that is not secure, and that is why all apps were supposed to have passwords."
"Every app has a four to six week NPCI audit process, they certify the app. In the garb of UX and UI, it's being packaged as WhatsApp to WhatsApp payments," he continued. "A Paytm user can't send money to a WhatsApp user. The NPCI needs to look at this, they are locking the consumer."
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