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WhatsApp sets up system to store payments-related data locally

Agencies
October 9, 2018

New Delhi, Oct 9: Messaging platform WhatsApp Tuesday said it has set up a system in India that stores payments-related data locally in the country to comply with RBI regulations.

The Reserve Bank of India (RBI), in a circular dated April 6, had said all system providers shall ensure that the entire data relating to payment systems operated by them are stored in a system only in India.

It had given time till October 15 to comply with the mandate.

"In India, almost one million people are testing WhatsApp payments to send money to each other in a simple and secure way. In response to India's payments data circular, we've built a system that stores payments-related data locally in India," a WhatsApp spokesperson said.

The spokesperson added that the company hopes to expand the feature across India soon, so that it can "contribute to the country's financial inclusion goals".

RBI, in its April order, had said it is important to have "unfettered supervisory access to data stored with these system providers as also with their service providers/intermediaries/third party vendors and other entities in the payment ecosystem" to ensure better monitoring of payment service operators.

RBI further said data should include the full end-to-end transaction details, information collected/carried/ processed as part of the message/payment instruction.

Comments

Sandesh
 - 
Tuesday, 9 Oct 2018

Whatsapp not at all safe. It may be another trick from centre. During demonetisation, Paytm made huge benefit with feku

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News Network
June 19,2020

Bengaluru, June 19: The throat swabs of a Bengaluru-based Kannada journalist, who passed away on June 18, were tested positive for the covid-19, officials said.

Gauripura Chandru (54), who was one of the sub-editors of Vijaya Karnataka Kannada daily newspaper, had reportedly suffered cardiac arrest.

It is learnt that Chandru wasn’t keeping well for past few days. He collapsed at his home on Thursday afternoon and was immediately rushed to a hospital, where doctors pronounced him dead.

A native of Gauripura in Chitradurga district, Chandru had completed graduation in engineering. However, he had chosen journalism as his profession.

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News Network
April 9,2020

Mysuru, Apr 9: The Administrative Training Institute (ATI) here was all set to impart training through online to Taluk Panchayat and the Gram Panchayat officials on tackling the deadly virus COVID-19, which was spreading like wildfire.

The Disaster Management Centre of ATI would conduct the training through Zoom application. Taluk Panchayat Executive officers and officials of the Gram Panchayats were invited to undergo training sessions.

District Vector-borne Diseases Control officer S Chidambar and World Health Organization representative Dr Sudhir Nayak would conduct sessions on handling the situation in rural region. The officials from 102 TP/GP Panchayats from 16 districts will attend the programme, on Thursday.

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News Network
May 27,2020

Bengaluru, May 27: Aimed at giving a boost to affordable housing, the Karnataka government on Tuesday decided to slash the stamp duty on new apartments costing up to ₹35 lakh.

The decision was taken during a meeting chaired by Chief Minister B S Yediyurappa to review the progress of the Stamps & Registration department.

The Chief Minister directed that the stamp duty be cut from the existing five per cent to two per cent on apartments costing less than ₹20 lakh, getting registered for the first time, his office said in a statement.

Further, the stamp duty on apartments costing between ₹21 lakh - ₹35 lakh will be down from five per cent to three per cent, it said. It is estimated that in 2020-21 due to COVID-19 induced lockdown, Stamps and Registration department might fall short of its revenue target by ₹3,524 crore. The revenue target for 2020-21 is ₹12,655 crore.

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