4 lesser known truths about the big #Facebook #RelianceJio deal:
1. Facebook struggled with regulation for 3 years in trying to launch #WhatsApp Pay bcoz of privacy issues+blocking by high access of PayTM etc. So FB made a deal with the big daddy of Indian companies with access.
1. Facebook struggled with regulation for 3 years in trying to launch #WhatsApp Pay bcoz of privacy issues+blocking by high access of PayTM etc. So FB made a deal with the big daddy of Indian companies with access.
2. The recently launched NUE framework by the #RBI is possibly a big end game being targeted by the partnership. This framework allows for parallel payment infrastructure to UPI being set up countrywide. $5.7 bn is cheap for this scale of access & profit
m.rbi.org.in/scripts/bs_vie…
m.rbi.org.in/scripts/bs_vie…
3. Privacy debate would kick up to the next level, now that whatsapp/facebook data + payment data + telecom data from Jio could be shared. Whatsapp has already cleared the data localization hurdle by setting up servers locally.
4. Facebook also recently released the #Libra 2.0 whitepaper. Libra was blocked in principle right upon its release by Indian regulators. Whatsapp pay and the partnership could lay a new foundation for pushing Libra. Jio has already been experimenting with blockchain & a Jio coin
