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Are WhatsApp and Jio Cooling Off on Payments Partnership?




 

Jio Payments Bank was one of the five initial banking partners enabling 

WhatsApp’s payments feature, but it disappeared from that list


Facebook recently hosted the Facebook Fuel for India 2020 virtual event where 

CEO Mark Zuckerberg showed interest in pushing payments through WhatsApp deeper

 in the country. The social media giant also hosted a special session at the two-day event

 to highlight different use cases of the instant messaging app. However, while naming

 banking partners behind WhatsApp's payments feature, Facebook did not mention 

Jio Payments Bank and instead listed ICICI Bank, HDFC Bank, Axis Bank,

 and the State Bank of India as the four banks powering payments through the app.

Jio Payments Bank was among the five banking partners to enable payments on

 WhatsApp.

 The Facebook-owned company had mentioned the name of the payments bank while

 announcing the launch of its anticipated payments feature . However,

 it omitted Jio Payments Bank from all its announcements during the Facebook fuel . WhatsApp also excluded the bank's name from one of its webpages detailing the service terms of payment service providers (PSPs) enabling payments on its platform.

 Facebook agreed to buy a 10 percent stake in Reliance Industries' Jio Platforms 

for Rs. 43,574 crores. The deal was expected to boost WhatsApp's payments feature by 

leveraging the infrastructure of Jio, and build it as a strong competitor against the likes of

 Google Play 

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