WhatsApp UPI payments feature may finally be ready
What's the story
WhatsApp is finally gearing up for its next big step. With Paytm planning on bringing its messaging service soon, it has now decided to integrate UPI-based mobile payments system into its platform.
This popular messaging app already enjoys 200 million users in India; so, chances are India will be among the first batch of countries where payments feature will be rolled out.
Here's more.
About
About the WhatsApp messenger
WhatsApp is a free instant messaging app; the company was founded by Brian Acton and Jan Koum in California's Mountain View in 2009.
Over 1.2 billion users across over 180 countries use the app to stay connected to family and friends.
Social media giant Facebook acquired WhatsApp in a $19 billion deal in 2014; it currently has over 200 employees.
Blog
Here's what raised the flag
According to the WABetaInfo blog, this feature has been seen in the beta version of the Android app. The UPI payment page is currently hidden in the WhatsApp's Android beta version 2.17.285.
Once it gets activated, it will allow instant payments via IMPS protocol. Several messaging apps, such as WeChat and Hike Messenger, already support payment services.
Paytm
WhatsApp v/s Paytm?
However, since WhatsApp is highly popular in India, chances are once it introduces this feature, it will emerge as the biggest competitor of the home-grown payments platform Paytm.
While Paytm has really deep pockets, thanks to its investors, and enjoys immense popularity following the demonetization phase, WhatsApp has Facebook to back it up in case the need occurs.
Details
Meanwhile, is WhatsApp taking a step towards monetization?
Facebook-owned instant messaging app WhatsApp doesn't make any money as of now.
In May, Facebook CEO Mark Zuckerberg said monetization of WhatsApp wasn't imminent; but it looks like things have changed now.
The monetization efforts seem to have become serious as WhatsApp is now looking for professionals, including product manager, product marketing manager, and business communications position, to help it monetize the app.