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#TENCENT WECHAT LICENSE#

Tencent already has a presence in India through investments in prominent tech companies such as ride-hailing firm Ola and ecommerce site Flipkart, but in order to break into the payments market the Chinese company will still have competition from the likes of Google Pay and Paytm. In order to launch the new UPI app, Tencent has partnered with Axis Bank, HDFC and ICICI. UPI, or Unified Payments Interface, is a real time payment system developed by the National Payments Corporation of India to facilitate transactions between banks.

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#TENCENT WECHAT LICENSE#

Tencent has been in talks to obtain a license and reportedly hoped to launch its famous payment platform in India by June this year. Enjoy group chats that support voice and video calls, photos, videos, and stickers. Chinese internet giant Tencent is looking to enter the Indian payment market with a UPI-based WeChat Pay app. Connecting over a billion people around the world, WeChat is a free messaging and calling app available on iOS, Android, Windows, and MacOS.