WhatsApp launching ‘in-chat payment’ services!
WhatsApp, an instant messenger is getting prepared itself to an intuitive In-chat payments Feature, as it making all arrangements to make a launch in India in December. This feature promises to make customer onboarding a child’s play. This really can be the biggest challenge to other players in the Indian digital payments ecosystem have to come across.
According to reports, in-chats payments feature is in its last stage and is being further tested by the employees of WhatsApp. Inside source reveals that a person with hands on the subject saying, there is every chance to do some sort of an extended beta program for the feature in November and by December you can expect a full roll-out. The feature has this symbol “Rupees” under the attachment option in the WhatsApp chat. By using this feature users can make fund transfers through a simple one-step process. Just enter the amount to be transferred and the UPI, PIN. With this feature, users will not have to exit the chat screens when making payments.
Already, the company collaborated with three important banks like ICICI Bank, State Bank of India and HDFC Bank, to launch the payment feature.
Till date, no other messaging APPs have come up with an idea, not just about India but around the world.
This feature will principally work on UPI based payment method. China’s We Char also adopted something like this. Now we have to look how this feature is going to become the biggest competition to other payments modes like Mobikwik, Paytm and few others.
Posted [relativedate] at [relativetime time_format=”H:i”]
Interestingly, Ganesh Devy is an untrained linguist. He is soft-spoken and a fiercely gritty man. The Professor found that125 foreign languages are spoken as mother tongue by Indians. 12 Villages close to Mumbai speak ‘outdated Portuguese’ till date. While few Indians living in Andaman & Nicobar Islands spoke Karen, an ethnic language of Myanmar, few in Gujarat spoke Japanese.
For the ignorant, in many developed countries like Japan, banks pay ‘Negative Interest rate’. It means that the depositor has to pay a certain fee to the bank to secure his/her money. It’s quite common to charge a minimal interest rate of 10%-15% (annually) even in developed nations. And unknowingly, we did pay taxes @ 15%-20% before GST implementation. This kind of messages not only shadow the ‘real understanding’ of economics but also alters the reader’s mind. Dear readers, do understand the fact that, with growing economy, the interest on deposits will come down further, and the interest towards bank loans is also expected to come down. Let’s not share spam, and let us keep ourselves educated.
