Paytm plans to launch a messaging service by the end of this month to compete with Facebook Inc’s WhatsApp, as per reported by Reuters.
Paytm will integrate a new feature on its platform that will allow users to chat and exchange audio, pictures and videos.
Once the service rolls out, it could be be bigger than WhatsApp with users over 230 million where as WhatsApp has over 200 million monthly active users in India. Hike claims to have over 100 million users.
Interestingly, the development comes at a time when WhatsApp itself is working on foraying into the digital payments space.
Digital payments in India will jump nearly 10 times by 2020 to $500 billion, according to a 2016 report by Boston Consulting Group.
This news is not confirmed by any paytm source yet