WhatsApp Hastens Payments Push for 200 Million Indians

www.bloomberg.com

WhatsApp is said to be accelerating the launch of its payment services in India, potentially launching as early as next week, in an effort to capture market share in an increasingly competitive market. Google is already live with their Tez application, and market leader Paytm has been expanding their footprint both in payments and commerce with Paytm Mall. Facebook is said to be partnering with HDFC, ICICI and Axis Bank, with State Bank of India said to be the laggard. This launch is sure to send waves through the ecosystem, and not just in India. Facebook has not yet monetized WhatsApp and given the app's broad user base, there is tremendous opportunity to do so. Inserting payments as a use case makes sense, but Facebook's payment execution remains questionable. 

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