WhatsApp is all set to join the market of online payments. According to reports Facebook-owned chat platform WhatsApp will introduce payment feature to its users in India very soon. It will a big move because WhatsApp has a very large user support (200 million) in India that will definitely create trouble for existing payment companies like Paytm, Mobikwik and other similar companies. Google has also launched a payment app Tez this year.
The feature is at final stage as the employees are testing it out. The beta version may be available from and is expected to be fully launched in December. It will work on UPI method of direct transaction. Currently, Phonepe, google tez and BHIM App of Indian Government are some payment apps that work on UPI method of payment.
The company has tied up with three banks State Bank of India, ICICI, and HDFC to launch the feature.
The user will not have to leave the chat page for the payment, this is the best point of the feature and this will also make it user-friendly. For the payment, there will be a “Rupee” symbol under the “Attachment” option in which the user will be asked to enter the UPI PIN and amount.
After the success of WhatsApp equivalent chat platform owned by Tencent WeChat in China, it is expected to be very effective in India. WeChat had launched the payment option in China and it became very popular in very less time. It’s time to think for all existing companies in the market to be in the market.