Facebook wants to introduce WhatsApp Pay in India in six months

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Facebook is preparing to roll out WhatsApp Pay in many other countries over the next six months. Developing markets like India, Philippines, Indonesia, Brazil, etc. They will be the main drivers. WhatsApp Pay existed in India in 2018 as part of a trial in which Facebook was able to test its functionality with one million users. However, he was not allowed to go ahead with a full version due to licensing issues. Companies seeking a digital payment license in India are mandated by the government to have 100% data localization, which WhatsApp has yet to achieve. This could cause a delay in its release in India. One of WhatsApp Pay's goals was to make sending and receiving money "as quick and easy as sending a photo," which it did in its beta version. Users can access the payment interface from the attachments, set the amount, and enter their PIN code to send money instantly. You can also choose the bank account in which to send and receive money. It will be based on our native Unified Payment Interface (UPI). I'm really excited about this, and I hope it starts rolling out in a number of countries and we make a lot of progress in the next six months.

Mark Zuckerberg Facebook is also looking to integrate a payment interface into Messenger to create a unified platform for users. Given the way merchant accounts have taken off on both platforms, we assume direct brand payments will be a future feature as well. It will join Facebook Marketplace, Instagram Shopping and Libra as another of the company's forays into e-commerce. In 2-3 years, India has grown and has more than 10 million merchants regularly accepting digital payments, which is one of the fastest growth spurts in the world. WhatsApp already has a 400 million user base in India, which could give WhatsApp Pay an inherent advantage over Google Pay and Paytm when it launches.