Facebook Inc., which has been struggling for years to get permission to run its WhatsApp payment service in India, finally got approval to roll out, and it also received a breakthrough year for a technology company that partnered to expand billionaire Mukesh Ambani. The world’s largest open technology market.
Facebook is testing WhatsApp payments in India in early 2018. In a statement on Thursday, it said that the operator’s payroll could be revived using an in-house multibank unified payments interface, its operator, National Payments Corporation of India. starting with 200 million users, the social media giant US can gradually expand it’s UPI based.
Approval for billionaire Mark Zuckerberg-Helmed Company is the latest milestone in April when it agreed to buy a 9.99 percent stake in Mr. Ambani’s digital services unit, Jio Platform Limited. including Google, and Intel Corp., Ambani’s unit has attracted more than $20 billion from investors, as the global tech giant has doubled its partnership with Asia’s richest man and India’s most influential business leader.
Mr. Zuckerberg said in a video post, “Now you can easily send money to your friends and family, just as easily as sending a message. There’s no fee and it’s supported by more than 140 banks,”. He added that it is available in 10 Indian regional language versions of WhatsApp.
It’s the ambition to build a big commerce business in India has been open with Facebook Center and WhatsApp messaging. domestic pioneers in the Indian payment market are Paytm, Google Pay, Walmart Inc.’s PhoneP, Amazon.com Inc. Amazon Pay, and dozens of other startups are crowded But but WhatsApp by 2023 giving a unique advantage in $1 trillion markets as WhatsApp’s enormous user base of more than 400 million.
The company said in a November 6 blog post on its website, “Starting today, people across India will be able to send money through WhatsApp,”, “We’re excited to join India’s campaign to increase the ease and use of digital payments, which is helping expand financial inclusion in India.”
Unlike some of its other competitors, WhatsApp will be able to quickly add customers to its payment service due to the ubiquity of its messaging app. Almost every other mobile internet user is a WhatsApp user.