WhatsApp confirms to roll out its payment services soon in India to compete with Google Pay, Paytm

WhatsApp confirms to roll out its payment services
Image: WhatsApp logo

WhatsApp Global Head ‘Will Cathcart’ said on Wednesday that company could roll out its payments services to customers across India at the end of this year

The messaging app, which has approximately 400 million users in India, has been testing out payments within the country with 1 million users initially.

Cathcart stated that the company’s vision is to make sending cash as easy as sending a message on the WhatsApp.

WhatsApp Pay will compete against the Paytm, PhonePe and Google Pay, is yet to be rolled out nationally in India

“We consider that if we get this right, it’ll boost up monetary inclusion and produce value for humans in India’s fast-developing digital economy, We cannot wait to offer the service more of our customers all across India later this year,” Will Cathcart said at an occasion right here.

WhatsApp has over 1.5 billion users globally, is looking rolling out its payments service in other countries as well.

WhatsApp’s Pay payment services’ blueprint in India has been stuck in a bind over issues around authentication and its data storage practices.

In the past, its domestic grown opponents have alleged that WhatsApp’s payment platform has safety risks for customers and isn’t in compliance with the guideline of RBI.

Last year in October, WhatsApp had said it has developed a system to keep payments-related information in India as part of compliance with the Reserve Bank of India’s guideline on storing such facts regionally.

In May this year, the messaging app had informed the Supreme Court that it’s trial run is possibly to be finished by July and that it will not launch WhatsApp Pay payment services without fully complying with the Reserve Bank of India’s norms.