WhatsApp Adds Payment Option: The latest wager by the Meta-owned service to increase commerce options in its largest market, WhatsApp announced on Wednesday that it will accept credit card payments and services from competing digital payment companies within its app in India.
In India, WhatsApp has more than 500 million users, but regulators there have limited the number of users who can use the in-app WhatsApp Pay service to just 100 million. Customers who shop on WhatsApp can also pay through well-known services like Google Pay, Paytm, and Walmart’s PhonePe, but only after leaving the app.
According to a blog post by Meta, payments made through those competing services—as well as any others that use India’s UPI instant money transfer system—will now be accepted straight within WhatsApp. There will also be new credit and debit card in-app choices available.
The acquisitions support Meta CEO Mark Zuckerberg’s agenda, which has become more urgent as Meta’s core ad business and metaverse project have faced challenges, for business messaging to become the “next major pillar” of the company’s sales development.
According to a Meta spokeswoman, there is no limits on the number of users who can trade with companies on WhatsApp using the other ways, however the number of WhatsApp Pay users will continue to be limited in India.
With around 300 million individuals using UPI to spend $180 billion in India each month, the expanded transaction alternatives might be a strong incentive for companies to pay Meta for access to WhatsApp users.
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WhatsApp Adds Payment Option
To date, WhatsApp has restricted its end-to-end buying experiences in India to experimental projects like the one with the Chennai and Bangaluru metro systems and the online grocery store JioMart, which is owned by Mukesh Ambani, the richest man in the country.
According to the blog post, going ahead, the new payment facilities would be accessible to any Indian firm that utilises WhatsApp’s commercial platform, which mostly caters to large businesses.
According to a separate blog post, Meta is also extending its Meta Verified membership programme to businesses throughout the world, providing them with a way to verify authenticity and boost their content in users’ feeds.
According to the article, monthly memberships will cost $21.99 for each Facebook page or Instagram account, or $34.99 for both, and will initially be offered in a select number of countries on Instagram and Facebook. WhatsApp will follow later.
