WhatsApp’s own payment service called WhatsApp Pay to be launched soon, though it, you can send money through your WhatsApp account.
Whatsapp payment service is currently in beta phase for a time now. But soon, WhatsApp will roll-out the update very soon in some countries. Will Cathcart, WhatsApp’s Global Head has said that UPI-based payment service will be launched by the end of 2019 in some countries.
Will Cathcart recently talked in an event held in New Delhi, India, in which he announced that in India they’re going to launch Whatsapp payment service after meeting the regulations, allowing people to send money through WhatsApp.
Furthermore, in February 2019, Whatsapp had put Whatsapp Pay into beta testing, which included a sample of one million users who tested the WhatsApp pay in beta phase. But the CEO of PayTm, Vijay Shekhar Sharma, has said the WhatsApp is ruining the Beautiful UPI open system, but disallowing users to make cross-app payments.
WhatsApp will be setting offices in the countries where it is going to launch first, such as India, as they have to ask the Governments of different countries to help them set up their offices so they can initiate rolling out Whatsapp Pay.
Since Will Cathcart is currently in India, meeting the Reserve Bank of India and National Payment Council of India’s office to meet the requirements needed to roll out WhatsApp payment services. Bloomberg report had also published last week which suggested that Whatsapp is ready to submit its data related audits to the government to speed up the launch.
Over 400 million users are using Whatsapp in India, making it one of the top destinations for WhatsApp to launch their services. Giving the power to over 400 million users to send and receive money with just a few taps.
Whatsapp will soon announce more countries they will be launching their payment services.
