WhatsApp decided to develop a direction of digital payment
WhatsApp financial ambitions are growing every day – the messenger plans to issue loans within the application. The company has already applied for a license from a regulator in India.
Thanks to this document, it became known that WhatsApp “wants to provide money or loans to users and other individuals on reasonable terms.”
It is worth noting that with its patron in front of Facebook, the company is still limited by law regarding the banking business. In this regard, WhatsApp should implement a new function together with a bank.
With more than 400 million users in India, the messenger has a good chance of becoming a major player in the digital payments arena, competing with Paytm, PhonePe and Google Tej. According to Credit Suisse, the online payment industry in India should reach $ 1 trillion by 2023. For this reason, many companies enter this market for the first time.
Summary PAYSPACE magazine
Remember that there will be shopping opportunities in the messaging application WhatsApp. The launch of the product catalog in Messenger was reported by Facebook, which owns the application. The WhatsApp catalog was previously available to users in Brazil, Germany, India, Indonesia, Mexico, United Kingdom and United States.
The social network will develop an e-commerce line in WhatsApp to monetize applications purchased five years ago for $ 19 billion.
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According to the material Next web