WhatsApp is planning to launch a payments service for the convenience of its users. Which can be quite profitable for users and small traders. The company started testing this service in the year 2017 but has not yet launched it in the Indian market.
But now the wait of Indian users for WhatsApp payments service is coming to an end soon because the company can launch this service in India by the end of this year.
WhatsApp India head Abhijit Bose revealed that the company plans to launch its payments service in India by the end of this year. Bose said the company aims to enable an end-to-end communication cycle between customers and small traders. Also, the company plans to provide a better experience to increase sales. Bose believes that the introduction of WhatsApp payments service will make it easier for small businesses across the country to work.
If you look at the previous reports related to WhatsApp payments service, there was a long discussion between Whatsapp and the Government of India to store the payment data of users in India. After which Whatsapp agreed to store the data in India.
At the same time, UPI will have the most important role in the WhatsApp payments service. Apart from it, this service will work with some banks which includes ICICI Bank, SBI, Axis Bank and HDFC Bank. It is important to mention here that India will be an important market for WhatsApp payments service because many payment services like Paytm, Google pay, Phonepe are already working here.