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 November 1, 2017 at 19:13