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Financials

WhatsApp builds system to comply with India's payments data storage norms

MUMBAI, Oct 9 (Reuters) - Facebook Inc’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. (Reporting by Sankalp Phartiyal Editing by Euan Rocha)

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