WhatsApp is
presently making the move for users of the instant messaging platform to start
using it to send not just, photos, videos and emojis, but money to each other,
a move that could see WhatsApp digital payments rule begin.
WhatsApp is
targeting India, its biggest market, for a possible move into online payments,
according to a CNN tech report.
The
Facebook-owned messaging giant is hiring an executive to head digital payment
efforts in the South Asian nation.
The new
position, “digital transactions lead, India” is based at Facebook headquarters
in California but will involve helping Indian customers “with inquiries related
to digital transactions,” collaborating with banks and helping to “scale global
support for digital transactions on WhatsApp”.
With over
200 million monthly users in India, a fifth of its total user base, it’s no
surprise WhatsApp has chosen the country for its first foray into digital
payments.
“India is an
important country for WhatsApp, and we’re understanding how we can contribute
more to the vision of Digital India,” a company spokesperson told CNNMoney,
adding “We’re… continuing to listen closely to feedback from our users”.
The
spokesperson would not comment further on the digital payment plans, but an
Indian tech news website, The Ken, cited sources with knowledge of the matter
as saying the WhatsApp digital payments service could be launched within six
months.
The
popularity of online payments has soared in India since Prime Minister Narendra
Modi banned all 500 and 1,000 rupee notes last November.
The shock
decision, which took 86% of the country’s cash out of circulation, led to a
major boost not only for digital payments providers but also for the
government’s own payment platforms.
Familiarity
with those platforms, the Unified Payments Interface (UPI), Bharat Interface
for Money (BHIM) and India’s national biometric identification program Aadhar,
is listed as a requirement for the new WhatsApp job.
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