WhatsApp is India’s most popular instant messaging app, and it is introducing person-to-person payment solutions in the country, expanding its services to become more competitive with the likes of WeChat in China.
The company is in talks with the government to add support for UPI, a new payment system by the National Payments Corporation of India (NPCI). UPI is open to third-party services, making payments is as fast and easy as sending a text message. In a statement to Mashable, WhatsApp spokesperson didn’t deny the claims and said, “India is an important country for WhatsApp, and we’re understanding how we can contribute more to the vision of Digital India.”
Furthermore, WhatsApp’s move to trial in-app payment to contacts was anticipated in our ‘2017 Things To Watch’ report published and sent around at the start of this year, in which we stated that “Consumers who want to spend less time doing mundane financial tasks will shift their habits wherein social networks provide a consistent way of conducting financial transactions under one roof; drawing traffic, eyeballs and making social an even more ‘always-on’ platform for consumers”. If you missed your copy, download here.