🇮🇳WhatsApp Enables New Payment Features in India

🇮🇳WhatsApp Enables New Payment Features in India
Whatsapp Payments India

Good morning!

Interesting Payments news from India where WhatsApp has unveiled a feature for Indian users that facilitates payments to businesses within the app using various methods. This development comes as the Meta-owned platform collaborates with payment companies PayU and Razorpay, allowing payments through credit/debit cards, net banking, and all UPI apps in the country.

Earlier in the year, WhatsApp integrated with Stripe for its Singaporean user base and introduced merchant payments in Brazil.

Mark Zuckerberg highlighted that the new feature would streamline payments to Indian businesses using the user's preferred method.

Available to all businesses operating on the WhatsApp Business platform in India, this move is significant considering WhatsApp's massive user base in the country, exceeding 500 million. The platform had launched a UPI-based payment service in India in 2020, which reached 100 million users the following year. Nonetheless, they face stiff competition from other UPI service providers like Google Pay, PhonePe, and Paytm.

Before this update, UPI-based payments through WhatsApp Pay were available for businesses, a feature which the Indian conglomerate, Reliance Industries, had leveraged for JioMart. The current upgrade makes the payment process more flexible with third-party payment options for merchants on the app.

Although WhatsApp Business is pivotal for revenue, as the platform doesn't monetize through subscriptions or in-chat advertisements, the majority of regular users in India haven't made significant purchases through it.

In hopes to attract more users and businesses, WhatsApp has not only enhanced its payment features but also introduced a feature named "Flows", enriching the in-app shopping experience. This will enable users to perform various tasks like seat selection on flights or appointment bookings right from the messaging app.

Now let's dive into other global FinTech news I listed for you today👇

Enjoy the news, and your weekend!




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