The much-anticipated Whatsapp Pay is going to be launched in India soon. Facebook's CEO Mark Zuckerberg has said that they will soon have positive news to share with the public.
Whatsapp Pay launch was stuck because of the Data compliance issues and regulations.
Mark Zuckerberg told the analysts:
“We have our test going in India. The test really shows that a lot of people are going to want to use this product. We” re very optimistic that we” re going to be able to launch to everyone in India soon, but of course will share more news when we have that,"
“We differentiate between payment systems that are built on top of the existing financial infrastructure like what we”re trying to do with WhatsApp payments or when we make payments in Instagram Shopping, and our work with something like Libra that is trying to build some new technological infrastructure for financial services."
This UPI-based Whatsapp pay is going to reach over 400 Million users and it will be aimed especially for small and medium businesses like we all know Whatsapp has become an important part of our life, work-life included. By the launch of Whatsapp Pay people will not have to use two different apps for the same purpose they can get it all under one hood.
The Reserve Bank of India and the Government hindered the launch of Whatsapp Pay as some features were not going well with regulations.
Dave Wehner, Chief Financial Officer at Facebook said
Daily active users reached 1.62 billion, up 9 percent compared to last year, led by growth in India, Indonesia, and the Philippines. “This represents approximately 66 percent of the 2.45 billion monthly active users in September”.
Let's see when the official rollout of the Whatsapp pay takes place and surely many people are waiting for it. This can be a headache for other UPI based applications like Paytm, GooglePay, and the newly launched OnePlus Pay.