Facebook owned WhatsApp announced launching its Payments service in India later this year, the fears of data privacy came back to the fore, with the government reportedly asking the NPCI to ensure that users’ date are not shared. The NPCI is an umbrella organization for all retail payments in India.
According to the RBI , all the digital firms like Google Pay, WhatsApp and other must store data locally for their business in the country. Facebook Owned company said that it is ready with its data localisation for its pay service.
In response to India’s payments data circular, we’ve built a system that store payments related data locally in India, A WhatsApp spokesperson had told IANS.
WhatsApp Global Head will Cathcat on Thursday said its peer-to-peer, UPI based Pay service for over 300 million users- especially the small and medium business will arrive in India sometime later this year.
Paytm which will take the biggest hit refused to comment on the development on Friday. Paytm, reported 230 million users in India had made it clear that all payments data of the Indian users must be processed and store only within the country and must not allowed to go out of the country, not even for processing.
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Recently, It is important we do not become mere Internet colonies for global companies. And make every organization accountable towards the security and privacy of data of our fellow country, A Paytm spokesperson said. This is a key matter of national interest, said Paytm, adding the government must discourage inappropriate use and transfer of data.
According to the advocate Virag Gupta who represents Centre for accountability and Systemic Changes. It has taken WhatsApp to the court, Interest giants ought to comply with Indian laws, including the appointment of Grievance Officer in India and data localisation.
In hearing on May 3, Whatsapp told the SC that the company is conducting a trial run of its payment service and will fully comply with the RBI norms on data localisation.
Gupta along with KN Govindacharya files a petition against Facebook and Google in the Delhi High court in 2012. Viraj Gupta said that, data is the new oil wherein India despite its biggest user base, hardly gets any value out of it. This is primarily because the Internet giants are not taxed properly in India.
Source- Zee News
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