WhatsApp To Offer Credit And Loan Facility To Users In India


WhatsApp Payments, a UPI-based payment service was launched in India two years back but it was called off as it failed to get the necessary approvals in the country. In the meantime, it looks like the Facebook-owned instant messaging platform will enter the credit market in India and provide loans to users.

WhatsApp To Offer Credit And Loan Facility To Users In India


WhatsApp Credit And Loans Facility

As per a filing with the ministry of corporate affairs, WhatsApp Payments has listed credit and loan facility as one of its business purposes in India. Apart from this, no other financial services are mentioned in the filing spotted by TechCrunch. However, there is no clarity if WhatsApp will provide personal loans to customers or offer credit for those who are looking forward to purchase funds via its payments platform.

Notably, the information comes soon after WhatsApp reached out to the NPCI (National Payments Corporation of India) to bring out the payments platform that will be compliant with the regulations related to local data protection and storage by May. Back in February, WhatsApp Payments was approved for a phased launch in India but there were compliance issues and controversies that called it off.

Rise In Digital Transactions In India

The WhatsApp credit and loan facility seems to make it at a time when there is a rise in digital transactions in the country. Almost all tech companies are coming up with credit payment systems in the country. Earlier this year, Paytm expanded its services to merchants with the launch of new gadgets such as QR display, portable speaker with voice confirmation of transactions, and PoS machine with inbuilt printer and scanner.

Recently, Amazon came up with the Pay Later service for eligible users providing them zero-interest credit for up to Rs. 60,000. Notably, the Amazon Pay Later supports both purchases and utility bills. To facilitate the same, the e-commerce portal joined hands with Karur Vysya Bank and Capital Float.


This service should provide relief to those who want to buy things during the global health crisis of coronavirus. It is similar to the service launched by Flipkart and LazyPay offering credit limits of up to Rs. 5,000 and Rs. 1,00,000 respectively for eligible users.

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