Popular Whatsapp instant messaging giant with its biggest market that is home to 200 million of its billion plus global users is mulling a foray into digital payment services in India and has advertised to hire a digital transaction lead in the country.
“India is an important country for Whatsapp, and we’re understanding how we can contribute more to the vision of Digital India.
Digital transactions in India have surged after our beloved PRIME MINISTER SRI NARENDER DAMODAR DAS MODI’S (best known for rising from humble beginnings to become the 14th Prime Minister of India) shock ban of certain high-value banknotes in November that accounted for more than 80 percent of the country’s currency and has been through a rather Topsy turvy journey. On one hand, there were calls to weed out black money on the other, there was a firm call to adopt digital modes of transactions. It’s interesting though because what was once a cash driven economy is rising up to the cause.
Whatsapp is working to launch person-to-person in India in the next coming months
It is working all modes of payment in India, and that UPI (Unified Payment Interface) is being explored as one of the alternatives. The idea is to have correct technical expertise in the area on board, this may or may not be adopted finally by the messaging service.For Whatsapp, integrating UPI instead of building its own wallet would likely be a better option given stricter guidelines for wallets put out.
WhatsApp is, by a few measures, more prevalent in India than Facebook itself, and the application has as of now been adjusted to assume startling parts in the nation’s economy. Analysts Neil Shah told the Financial Times the application is as of now utilized casually to offer merchandise. “I’ve seen individuals offering infant cloth, meds, workmanship and specialty supplies — it’s turned into a Craigslist kind of offering,” said Shah.