WhatsApp allows users to send money in India

According to the WhatsApp blog, users in India will be able to send money to their contacts using the Messenger service starting Nov. 6, 2020. This secure payment method makes transferring money as easy as sending a message. It allows users to securely send money to family members and friends or pay for goods from anywhere.

This is the next step to e-commerce business on the part of Facebook. The integration of the payment system in India will likely be the first pilot for the transformation to a shopping platform. We have already reported on WhatsApp Shopping in a blog article.

WhatsApp’s path to becoming an e-commerce business

With a collaboration with National Payments Corporation of India (NPCI), WhatsApp developed the payment functionality. Using Unified Payment Interface (UPI), a real-time payment system used for the first time in India, users’ payments should be able to be sent easily via chat.

A prerequisite for sending and receiving money via WhatsApp is a bank account with cooperating banks. In this regard, WhatsApp is partnering with five leading banks in India. Money can be sent via chat to any person using an app with UPI support.

India is a good choice as the first pilot market on the part of Facebook, since its big competitor TikTok is banned there, making room for Facebook apps like Instagram Reels or WhatsApp Shopping. In general, Facebook is currently pushing ahead with its efforts to turn its social networks into shopping platforms. The trend of online ordering triggered by the Corona pandemic will have its share in this.

Source: blog.whatsapp

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