Mumbai, 24 September 2019
by Nabanita Banik
Yes, you heard that right! WhatsApp pay feature is now soon going live and is all set to launch in India. The Facebook-owned firm tested the beta version service with about one million people to check on credibility and acceptance by the Indian consumers and now it’s all ready for a full launch. WhatsApp currently has the biggest market with over 400 million users in India alone and India would be the first country to get WhatsApp payments, said Cathcart, the company's global head but did not say whether the authorities have given final approval.
"WhatsApp Payments will make it as easy to pay someone on WhatsApp as it is to send a message, and we can't wait to provide this service to our users across India this year"
said Will Cathcart in a statement.
Amidst the rumours about a prospective launch date, the mega launch of WhatsApp pay would shake the likes of Tez now Google Pay, Paytm, PhonePe etc. in India. And the launch of the WhatsApp Pay would mark India, to be the first country to support in-app payment on the popular messaging platform.
WhatsApp Pay, facilitated by the Indian government’s UPI payments system, began testing their payment service in the country earlier this year and since then, it has processed about one million transactions per month. India is WhatsApp’s biggest market and the first app of its kind that enables language selection that covers more than 13 regional languages in India, alone.
The WhatsApp Payment feature is yet to be launched, but when launched it might take the financial industry by storm. According to RBI guidelines, payment hosts requires payments data to be stored locally and WhatsApp seems to be steadily working with third-party auditors to make the mandate happen. WhatsApp is approaching banks like Axis, ICICI, HDFC, and SBI to offer them their payment services.
While WhatsApp still contemplates on their payment host, we at Atom are at your service. Click on the link below to be redirected to Atom’s Payment Gateway page, to enjoy a seamless and hassle-free service: https://www.atomtech.in/products/online-payment-gateway-india
