WhatsApp To Launch UPI-based Digital Payment Services in India

The user base of world's most popular messaging app, WhatsApp must be wondering that what could be the next move of this giant platform in the area of technology or connectivity. According to the recent reports by some of the imminent news sources, the messaging provider WhatsApp is expected to launch its own digital payment service in India using the peer to peer transaction in action.

All the bigger channels of news sources are reiterating the same fact that WhatsApp is about to forge into the digital payment system using the UPI technology. The expectations are as high as the launching will take place later this year with the motive of integrating the BHIM app system and UPI rather than creating its own payment service. The company is also offering a job of Digital Transactions Lead preferably in India. This indicates that India is the top priority for the company.

The messaging service provider has a wide user base of over 200 million with which the digital transactions will just get a boost and will add another feather to the cap. The service is also set to be launched for all its global users in a short period of time which will be somewhere around six months. It has certainly provided enough fire to be aroused within the minds of intellectuals and the digital payment theory is now actualizing on a firm base.

On a visit to India in February, which included a meeting with the country’s IT Minister, WhatsApp co-founder Brian Acton acknowledged that the company was “in the early stages” of seeing into how it can introduce payment services.

Meanwhile, Sweden-based Truecaller, which figures India as its largest market, introduced user-to-user payments a week earlier via a tie-in with ICICI Bank that also utilizes UPI. It is hoping that the new service will help it compete for engagement with popular messenger apps like WhatsApp and Hike.

Officials spokesperson from the WhatsApp Inc. itself mentioned that “India is an important country for WhatsApp, and we’re understanding how we can contribute more to the vision of Digital India, We’re exploring how we might work with companies that share this vision and continuing to listen closely to feedback from our users.”