WhatsApp Pay To Roll Out In India In Mid-2020: A Google Pay Rival On Cards


In the era of digital payments when every other service provider is gearing up to make online transactions with a single swipe, WhatsApp is struggling to roll out its service in India. The Facebook-owned instant messaging service introduced payment service in 2018 on a trial basis but it faced licensing issues due to the lack of 100% data localization.

WhatsApp Pay To Roll Out In India In Mid-2020: A Rival To Google Pay?


Now, WhatsApp is all set to roll out the payment services in many countries including India, the Philippines, Brazil, and more in the coming months. It has been revealed by Mark Zuckerberg, the company's CEO that a number of countries will get this service in the next six months.

WhatsApp Payment Service

WhatsApp users can send and receive payments using the WhatsApp Pay feature. Like many other digital payment services, this is also a UPI series (Unified Payments Interface). Users interested in making use of this service will have to first link their bank account and authenticate payments by setting up an MPIN within the app. This way, they will be able to send and receive payments in any chat just like sending a photo.

Given that WhatsApp Pay is based on the UPI standard, it will be a direct rival to the Google Pay and PhonePe UPI payment services. Notably, even the telco Reliance Jio is reportedly planning to bring the Jio UPI payment service in India. Having said that, WhatsApp is expected to face a tough challenge in the Indian digital payment market.

What We Think

Currently, India is one of the fastest-growing markets to adapt to digital payments as over 10 million merchants who accept such transactions. Moreover, WhatsApp has more than 400 million users in the country and remains the most commonly used instant messaging platform.

Eventually, if WhatsApp Pay is rolled out in India, there is no need to market it among users separately. And, the user base of the messaging platform will be able to make payments within their chats and not open a separate app for the purpose.

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