Facebook Owned Messaging app Whatsapp to Launch peer-to-peer payments in India soon. India alone have 200 million users out of over 1.2 billion monthly users worldwide.
In February, WhatsApp co-founder Brian Acton had met IT Minister Ravi Shankar Prasad to discuss ways in which the company could contribute to India’s vision for digital commerce.
According to a job advertisement on WhatsApp’s website, the company is looking for a candidate with a technical and financial background, who also has an understanding of Unified Payments Interface (UPI), BHIM payments app and Aadhaar.
The job responsibilities would include collaboration with banks to resolve WhatsApp user issues and being “an advocate for the users of our digital transactions service to the rest of the company”, it added. Also preferred to be Bilingual in English and Hindi (read, write and speak).
Facebook added payments to its Messenger app some time ago in the U.S., but such a feature inside WhatsApp could be far more transformative in India, where Messenger is less popular.
Credit card penetration is far lower in India, while WhatsApp has already emerged as a platform for facilitating e-commerce despite currently offering no features that expressly support that.
Whatsapp is also planning on rolling out commercial messaging this year for businesses as it looks to tap into enterprises for monetising its platform.
Last week, Truecaller, which has a large user base in India, started a mobile payment service in the country based on the UPI platform.
Samsung has also recently launched its digital payments platform – Samsung Pay – in India.
This move of WhatsApp will surely give boost to Digital Indian campaign.