Whatsapp Plans to Dive Into Digital Payments in India, Expected Launch in Six Months

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Ashwini Sontakke
Ashwini Sontakke
Content Writer at TechGenYZ

Over the years, users thought what should be the revenue model of WhatsApp; the question was even bigger when social media giant Facebook acquired the messaging service in an $18 billion deal. Now, a new report suggests that WhatsApp is thinking of money-making options as the company is planning to dive into digital payments in India within six months, which would be the biggest transaction lead in the country.

WhatsApp has more than 1 billion global users, and in India, it has the home of 200 million users who make conversation daily using the app. A news website, The Ken, has disclosed that WhatsApp has posted jobs advertisement looking for a candidate with a technical and financial background. According to the advertisement, WhatsApp is searching for a candidate who will be able to understand India’s Unified Payments Interface (UPI) and the BHIM payments, which allows money transfer and merchant payments using your WhatsApp numbers.

In China, the home-built instant messaging provider WeChat has the same service – person-to-person payments system sending money to contacts.

In India, digital transaction has increased significantly after PM Narendra Modi’s decision to scrap more than 80 percent of the country’s currency in circulation at the time. Currently, the government’s initiative toward Digital Transaction move can boost WhatsApp’s move of brining digital transactions through its system.

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.-said WhatsApp spokesman

According to sources, in February, WhatsApp’s co-founder, Mr. Brain Acton, stated that the company is in the initial stage of bringing a digital payment system. He also commented he had made the conversation with the Indian Government about their new service in the country.

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