of a login makes whatsapp payments a security risk akin to giving an open atm to everyone argues sharma how can you allow such a security risk just in the name of banks underwriting whatsapp is used by gullible indian consumers far more than any other app here again opinions are divided users need a upi pin to transact on whatsapp they enjoy only temporary relief to make customer experience better but others do not get such leeway making friction inevitable while fintech startups are hassled by the easy entry of foreign players banks seem less perturbed rajiv anand executive director axis bank points out that india does not have equivalents of facebook or twitter thats a choice we have made as a country for us cash is enemy but 90 of personal consumption is still cash third parties enabling payments is not a concern for us they work with local banks governed by npci rules bankers feel if apps have larger ambitions beyond p2p payments they will need relevant licences and permits follow kyc norms do customer acquisition and so on an internet industry watcher says digital startups dont belong to banks club and barriers to entry in their business are low thats why they are feeling the heat google tez whatsapp and others see scale on the back of openness in india which countries like china do not offer diana layfield vice president product management google says india is fantastic as it enables all players to participate and to continue that is important on the infrastructure side the government did a great job in creating npci and pushing upis creation they have started with p2p payments and will expand to other areas as google tez already has enabling bill payments besides its 13 million active user base includes 05 million small merchants who accept payments in p2p mode they are collecting vital user data startup entrepreneurs in india have the ability and knowhow to leap ahead in digital payments they must be allowed to succeed and not be eaten when they are still young india needs to wake up and protect its own ecosystem says wadhwa a of now indias hockey stick payments growth looks set to zoom away leaving local startup ambitions burn at the bottom by shelley singh et bureau published on feb 20 2018 at 0900 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download app alibaba vijay shekhar sharma facebook digital payments paytm google npci homenewslocal peers