Despite hurdles, Zuckerberg sees huge demand for WhatsApp payments in India

Facebook's misses Street estimates in June quarter; share price falls almost 20% in after-hours trading, eroding roughly $120 billion from the company's market cap

While Facebook-owned instant messaging app WhatsApp might have hit a roadblock in rolling out its integrated payment solution for its 200-million-plus users in India, Chief Executive Officer Mark Zuckerberg on Wednesday told investors that the feedback from initial users had been extremely strong.

WhatsApp began testing its payments feature which is based on the Unified Payments Interface (UPI) in February, with an initial base of 1 million beta testers. Enabling UPI payments through the app is expected to be a game-changer, given its large base of users, but apprehensions over data privacy and security have meant that the Reserve Bank