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WhatsApp to roll out its payments service in India this year
- Monday | 29th July, 2019
BENGALURU (Reuters) – WhatsApp will roll out its payments service in India this year following a year-long pilot, its global chief Will Cathcart has said, as the Facebook-owned messaging giant taps an upsurge in digital payments in its dominant market. “It’s a regulatory approval question in India at this point,” Facebook Chief Executive Mark Zuckerberg said on Thursday on the company’s earnings conference call in reference to WhatsApp Pay. “Payments services are critical to … bringing millions more people into India’s fast-growing digital economy,” Will Cathcart, WhatsApp’s global head, said in New Delhi on Thursday. “We can’t wait to provide this service to our users across India this year,” Cathcart said. WhatsApp will use India’s Unified Payments Interface (UPI) standard used by many other digital payments services, which is growing rapidly — UPI processed over 750 million transactions last month, rising from about 246 million a year earlier.
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