WhatsApp is one of the most popular messaging application used worldwide. WhatsApp, owned by Facebook Inc, has recently taken a dig into digital payment system in India.
According to the sources, WhatsApp will soon start its digital payment system in India as it is a home to more than 200 million people. This digital move of WhatsApp will be soon replicated by other giant messaging apps like Tencent Holdings Ltd’s WeChat in China.
Further reports say that this payment system will be launched in Indian within next 6 months and it aims to launch person to person safe payment method.
Apart from this, also there were job hirings from WhatsApp looking for candidates with a technical and financial background – who understands India’s Unified Payments Interface (UPI) and the BHIM payments app that enable money transfers and merchant payments using mobile numbers – to be its digital transactions lead for the country.
Here is what the WhatsApp spokesperson said, “India is an important country for WhatsApp, and we’re understanding how we can contribute more to the vision of Digital India,”
“We’re exploring how we might work with companies that share this vision and continuing to listen closely to feedback from our users” he further added.
After sudden demonetization in November by Narendra Modi, it led to increase in digital transactions in India. During the demonetization, a spokesperson of WhatsApp assured that they will be working towards the mission of Digital India and soon then they started working on the project.