INTERNATIONAL - WhatsApp first announced the feature in April 2017, the company finally took the leap and launched the peer-to-peer payments service in beta in India, one of its most important markets.
A select amount of users in India have noticed the feature popping up in both the iOS and Android version of WhatsApp, with many celebrating the launch on Twitter.
Whatsapp payments is here. This is surely going to be a game changer in India. pic.twitter.com/39qN4GHSdt— Nimit Jain (@jainnimit) February 9, 2018
WhatsApp chose the country because the app is hugely popular in India.
Mobile analytics firm App Annie, confirmed this data stating that the Indian WhatsApp user base is more than 200 million daily active users, with India surpassing the US.
WhatsApp has reportedly signed up a number of Indian banks to help bolster its payments service.
The company also makes use of the Indian government’s Unified Payments Interface, or UPI, framework, which allows for instant transfer between participating banks.
It’s not clear when the service will launch to rest of the world.
- BUSINESS REPORT ONLINE