WhatsApp Builds System to Comply With India's Payments Data Storage Norms
Facebook's WhatsApp said on Tuesday it has built a system that stores payments-related data locally in India, in a bid to comply with a central bank directive that all such data should, within six months, be stored only in the country.
WhatsApp rolled out a test of its payment system in India, its biggest market by users, earlier this year. "In response to India's payments data circular, we've built a system that stores payments-related data locally in India," WhatsApp said in an emailed statement.
The Reserve Bank in April said all payments data should be stored only in India for "unfettered supervisory access", a decision that has led to intense lobbying by global firms that worry it would cost them millions of dollars.