Today we live in the era of digital world different social media apps always try to come up with new strategies to keep engaging more audience and to keep growing. Along with time, the requirements and demands of users also change and companies always come up with new products and services to engage more users from all over the world.
If you estimate the user base of WhatsApp in India, they have more than 300 million users that can help win over the market.
Users in all sorts of age groups pretty much rely on WhatsApp for communication, so if it also offers payment transaction service people will find it easy and more suitable.
Although WhatsApp is always loved by the majority of people it also faced negativity based on being a platform for false news and rumors leading to chaos in the country.
Dhiraj Singh/Bloomberg via Getty Images
Read next: This New Feature in Whatsapp Will Let You Edit Your Media Files Right in the App
WhatsApp payments service in India
Almost all the companies try to provide a variety of services so that their users rely more on their apps. Recently, reports confirmed that Facebook is very close to launching its WhatsApp payments service in India. Since early 2018, Facebook launched this service in beta mode for millions of users but the nationwide release has been delayed due to government regulations. Recently, Bloomberg was told that Facebook completed its audit that showed all data involvements in payments that will be stored on servers in India. This report will soon be submitted to India’s banking regulator.WhatsApp Competitors in India
If WhatsApp wants to launch payment services they will face very tough competition in India. Amazon is already in the market with Amazon Pay UPI for Android. Google Pay has more than 45 million Indian users and Apple Pay also plans to enter the market.If you estimate the user base of WhatsApp in India, they have more than 300 million users that can help win over the market.
Users in all sorts of age groups pretty much rely on WhatsApp for communication, so if it also offers payment transaction service people will find it easy and more suitable.
Response from WhatsApp
Although WhatsApp declined to respond to any audit it looks like WhatsApp will be providing WhatsApp Payments based on UPI standard to all users in India and to continue working with local partners to support digital economy.Although WhatsApp is always loved by the majority of people it also faced negativity based on being a platform for false news and rumors leading to chaos in the country.
Bottom Line
If this new service launches in India it will make the life of users a lot easy. This new feature can make users more rely upon WhatsApp for all sorts of services making it the most popular platform with the highest active users.
Dhiraj Singh/Bloomberg via Getty Images
Read next: This New Feature in Whatsapp Will Let You Edit Your Media Files Right in the App
