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Paytm likely to provide messaging service in mobile app

By Newsd
Published on :
Paytm registers 600% growth in UPI transactions in 6 months
Source: India Today

Digital payments firm, Paytm has planned to launch messaging service against its rival,  WhatsApp by the end of August, a source reported.

SoftBank and Alibaba-backed Paytm is looking to attract people in India to use the new messaging service embedded in its app, which many people use.

Its messaging service will enable users to send audio, video and pictures and texts. Currently, the app has over 225 million users.

E-payments in India reached a boom after demonetisation, where old notes were banned in the country.  Firms like Paytm have rapidly increased their market share since then. Digital payments in India would jump nearly 10 times to $500 billion by 2020, according to a 2016 report by Boston Consulting Group.

WhatsApp has also been trying to provide digital payment services in India.

Sources also said that Paytm did not respond to an email seeking comment while WhatsApp was not immediately reachable for comment.