BANGALORE: Facebook Inc. is moving a step closer to launching its long-delayed WhatsApp payments service in India after wrapping up an audit of related data practices, according to people familiar with the matter. WhatsApp is required to show a third-party auditor that all data involved in payments will be stored on servers only in India. Amazon Pay and Paytm, the country’s most popular digital payments service, have already complied with the Reserve Bank’s data localization guidelines. But Libra is conceived as a means to let people easily send money around the world, including through its own WhatsApp payment service. Its messaging service has been used to spread fake news and rumors, including some that said to fuel nearly two dozen lynchings in the country.

Source: Mint July 17, 2019 04:07 UTC