InvestorQ : Do you think WhatsApp payment Gateway will survive in front of Paytm & Amazon pay?
Khushi Patel made post

Do you think WhatsApp payment Gateway will survive in front of Paytm & Amazon pay?

Answer
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Suhani Mirza answered.
1 year ago


Facebook is all set to launch Whstapp payment, the app feature that enables users to transfer money to another user. Facebook has already sent request to the Reserve Bank of India (RBI) for approving the digital payments services to Indian WhatsApp users.

How WhatsApp may exceed beyond other popular payment platforms? Whatsapp made its first successful; trail in India with the sample size of 1 million users. The trail was executed this year (2019).
The simple payment process is quite easy for the user to operate. UPI system in this app has contributed to more secure process. UPI allows the user to use the transaction process. In UPI user do not have to undergo the KYC process, unless the linked bank account has completed the KYC requirement. User do not have to share the credentials or details. After the transaction the authentication is done with the user's registered mobile number. The number receives a SMS as a receipt to the user.

In one of the reports, Facebook said, “Sending payments will be as easy as sending a message”.
Reports of whatsapp claim, the total count of 300 million WhatsApp user exceeds the total user community of Paytm, Phonepay and Google Pay in India.