Both social media and messaging app companies are banking on their popularities among users to enter the digital finance market. They are hoping that users of the messaging apps will show similar interest in using them as digital wallets, said A.P Hota, Managing Director, National Payments Corporation of India.
There are strict regulations which must be followed when launching digital payment systems and all messaging services must comply with these. No company can afford to risk the security of consumers' transactions as the competition is too thick to commit such errors, said Mr. Hota
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