WhatsApp Pay to get several India-first features, including cashbacks, in the next six months

Asia's Tech News Daily

WhatsApp Pay to get several India-first features, including cashbacks, in the next six months
© WhatsApp WhatsApp Pay to get several India-first features, including cashbacks, in the next six months

  • WhatsApp Pay is looking to accelerate its growth in India.
  • The company is planning to invest a significant amount for its growth in India.
  • It will introduce several India-first features to attract more customers to its payment service.

WhatsApp Pay has been looking to take on its competitors in India, Google Pay, PhonePe and Paytm, head on given its large user base in the country. However, currently the company is facing a market cap of only 20million users in the country from the regulator National Payments Corporation of India (NPCI).

Although NPCI has increased the cap to 40 million users, it only amounts to 8% of WhatsApp’s total user-base in the country, claimed to be 500 million. On the other hand, its competitors PhonePe and Google Pay have a market share of 46% and 34% respectively, and WhatsApp Pay amounts to less than 1% of the market share.

India-first approach

To take on its competitors, Meta-owned WhatsApp is looking to make significant investments on its payment services in India to speed up its growth. In its India-centric approach, a large part of the investment is likely to go into cashback offerings to users on making transactions through its platforms. Recently, it was discovered that WhatsApp was offering ₹51 cashback for the first five transactions done by its users.

Luring customers through cashbacks also helped the likes of Google Pay and PhonePe grow in India. Apart from the cashback, WhatsApp has also introduced the ₹ symbol in its chats for payments. Even the camera icon in the chat composer allows users to scan any QR codes.

According to Manesh Mahatme, WhatsApp India director-payments, the company has planned significant investments in WhatsApp Pay across India that will include several India-first features to accelerate the growth.

Less trust

According to a report in TechRadar, WhatsApp will find it hard to win against the likes of Google Pay, PhonePe and Paytm due to its perception. A fintech-analyst claims that according to their research people are less trusting of WhatsApp with financial transactions.

So another focus of the heavy investment in India would be on improving its image and sowing trust among its users to use WhatsApp Pay for transactions.

SEE ALSO:

Meet Parag Agrawal, the IIT-Bombay grad who is taking over from Jack Dorsey at Twitter

Google Play’s Best of 2021 India Awards: BGMI, Garena Free Fire MAX, Bitclass and Clubhouse top the ranks this year

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

House suspends plenary sessions, resumes session on Jan. 24

THE House of Representatives suspended plenary sessions for Tuesday and Wednesday and will resume session on January 24. “We have decided to suspend the plenary sessions for the rest of ... Read more »

Pengerusi PAC perdaya orang ramai, dakwa Ahli Parlimen

© Provided by Free Malaysia Today Ahli Parlimen Puncak Borneo, Willie Mongin (kiri) terkejut dengan tafsiran Pengerusi PAC, Wong Kah Who mengenai Peraturan Mesyuarat. PETALING JAYA: Seorang Ahli Parlimen menyelar ... Read more »

Singer Joanna Dong will be performing at an epic Lunar New Year concert

Singaporean singer Joanna Dong will be organising and hosting an epic Lunar New Year concert at the Sands Theatre in Marina Bay Sands. The singer, best known for being a ... Read more »

Peyton Manning gibes Eli about Giants' infamous QB sneaks

Eli and Peyton Manning decided to join the party. During the Giants’ Week 18 loss to the Washington Football Team, ex-Giants head coach Joe Judge infamously called for back-to-back QB ... Read more »

DFSA grants ABK DIFC Branch Category 1 banking licence

© Provided by Khaleej Times Abdulla Alsumait, Deputy Group CEO, ABK. — Supplied photos Al Ahli Bank of Kuwait (ABK)-DIFC announced today that it has been awarded a ‘Category 1 ... Read more »

Report: Brian Flores, Brian Daboll on Giants' head coaching shortlist

© Provided by Giants Wire Over the weekend, reports arose that suggested the New York Giants are “very interested” in Brian Daboll for their head coaching job, and that Brian ... Read more »

Manila launches high-tech robotic system for stroke victims in govt hospital

MANILA has collaborated with a private medical technology company to open its first new physical therapy and rehabilitation center in one of its government hospitals where a high-tech robotic system ... Read more »

Celebs Go Dating fans complain about Married At First Sight's Nikita's new quest for love

Nikita Jasmine has left quite the impression on TV viewers after the brash star’s appearance on Married At First Sight. The 27-year-old north east native left fans flocking to social ... Read more »

‘I want to express myself on the field': South Africa speedster Marco Jansen on duel with 'good friends' Bumrah

Days after getting into an on-field tussle with India’s premier seamer Jasprit Bumrah, 21-year-old Marco Jansen opened up about the incident. Sharing his thoughts, Jansen said that he doesn’t have ... Read more »

Australian Open 2022, Day 2, Tennis Live Score and Updates: Muguruza, Swiatek Through; Tsitsipas in Action Later

© Provided by News18 Australian Open 2022, Day 2, Tennis Live Score and Updates: The top men’s seed remaining in the Australian Open, Russia’s Daniil Medvedev, begins his campaign for ... Read more »

‘Rohit Sharma or Ravichandran Ashwin must be stop-gap Test captain'

© Provided by The Times of India MUMBAI: Indian cricket is in the midst of a massive debate: Who should be the next Test captain of India post Virat Kohli ... Read more »

Petrol and diesel price today January 18: Fuel rates remain unchanged; check price in Delhi, Mumbai here

© Provided by The Financial Express Crude oil prices were up after tensions rose in Middle East. (Image: REUTERS) Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: ... Read more »

Top stock tips by Sudarshan Sukhani, Mitessh Thakkar: Mphasis, Dixon Tech, M&M and more

© Provided by CNBCTV18 Indian equity benchmarks are likely to start Tuesday’s session on a muted note. At 8:24 am, Singapore Exchange Nifty futures — an early indicator of the ... Read more »

After Dhanush-Aishwaryaa split, Soundarya drops new profile pic with dad Rajinikanth and sister

Soundarya drops new profile pic with dad Rajinikanth and sister. After 18 years of togetherness, Dhanush and Aishwaryaa Rajinikanth have decided to part ways as a couple. On January 17, ... Read more »

Cold day conditions to persist in northwest India

© Provided by Hindustan Times Minimum temperatures were likely to rise by 2-4 degrees Celsius in the region over the next five days. (HT Photo) NEW DELHI: A western disturbance was ... Read more »

Bills TE Dawson Knox on his historic performance in wild-card win

© AP Bills tight end Dawson Knox has had a breakout campaign. However, down the stretch, his play was lackluster. Knox had a touchdown in Week 16 against the Patriots ... Read more »

Tusshar Kapoor reveals how dad Jeetendra, mum Shobha reacted when he first told them about becoming a dad

© Provided by Pinkvilla Tusshar Kapoor took fans by surprise a few years ago when he announced that he had welcomed a son and was officially a father. The actor ... Read more »

Rolls-Royce Ghost Black Badge confirmed for India: Five ways the Black Badge is different from the standard Ghost

© Moneycontrol Rolls-Royce Ghost Black Badge confirmed for India: Five ways the Black Badge is different from the standard Ghost Back in 2020, luxury carmaker Rolls-Royce launched the Ghost, which subsequently came to India as well. In November last ... Read more »

Bigg Boss 15 Day 105 Written Update: Rajiv tells Shamita Raqesh sends her love and kisses

Just two weeks before the finale, Bigg Boss 15 introduced a major twist in the January 17 episode. Evicted contestant Rajiv Adatia made a re-entry with special powers for the ... Read more »

Key bond market deals: IOC, Ugro Capital, Blue star

© Provided by CNBCTV18 Here’s a look at the key bond market deals on Tuesday. Non-convertible debentures: Tata Capital accepts bids worth INR 400 crore on two-year and one-month bonds ... Read more »

Australia has record COVID-19 deaths, hospitals under stress

The Associated PressMasked spectators watch first round matches on Rod Laver Arena at the Australian Open tennis championships in Melbourne, Australia, Monday, Jan. 17, 2022. (AP Photo/Hamish Blair) MELBOURNE, Australia ... Read more »

Asia shares mostly rise moderately after US national holiday

The Associated PressA woman wearing a face mask walks past a bank’s electronic board showing the Hong Kong share index in Hong Kong, Tuesday, Jan. 18, 2022. Asian shares were ... Read more »

First day of 'no vax, no ride' in NCR went well —PNP

© Danny Pata A member of the Inter-Agency Council for Traffic checks the vaccination cards of passengers at the carousel bus station in EDSA-Taft on Monday, January 17, 2022, the ... Read more »

Omicron news LIVE Updates: Mumbai sees decline in COVID-19 cases; Centre issues revised guidelines on use of drugs, therapies

08:48:21 IST COVID-19: Maharashtra govt says   Molnupiravir must be used with caution The Maharashtra government on Monday issued a letter to the district, civic administrations and health departments in the ... Read more »

Winter storm slams East Coast, leaving nearly 200,000 without power

More than 200,000 customers were without power Monday morning in the Eastern U.S. after a major winter storm swept through the region, causing multiple tornadoes in Florida. The storm, which ... Read more »

Kia Carens Registers 7,738 Bookings in India on First Day, Price Announcement Soon

Kia India has revealed that the Carens has received a tremendous response from the Indian customers, with 7738 bookings registered on the very first day. The company opened the pre-bookings ... Read more »

China's Tianjin reports fewer COVID-19 cases as its outbreak shows sign of easing

© Reuters/STRINGER FILE PHOTO: Medical worker collects a swab from a resident for nucleic acid testing in Tianjin BEIJING (Reuters) – The Chinese municipality of Tianjin reported fewer COVID-19 cases ... Read more »

Ohio State offensive tackle Dawand Jones makes decision on NFL plans

© Joshua A. Bickel/Columbus Dispatch / USA TODAY NETWORK Ohio State football offensive tackle Dawand Jones makes NFL decision Today was the day that college players with eligibility remaining needed ... Read more »

NFL world reacts to Kyler Murray's dreadful 1st half in playoff game vs Rams

© Provided by The Comeback The first half of Monday night’s NFC Wild-Card Round playoff game was a complete disaster for Kyler Murray and the Arizona Cardinals. Los Angeles outscored ... Read more »

'There comes a stage when you cannot handle pressure': Shahid Afridi has his say on Virat Kohli leaving Test captaincy

© Provided by Hindustan Times Shahid Afridi gave his opinion on Virat Kohli giving up India’s Test captaincy.  (Instagram/Getty) Saturday, January 15, 2022 marked the end of an era in ... Read more »

Two David Long Jr.s have interceptions near the same end zone at SoFi Stadium this season

© Provided by Touchdown Wire You may not have known that there are two NFL players named David Long. One plays linebacker for the Titans; one plays cornerback for the ... Read more »

The 5 Skills Required to Easily Find Jobs in the UAE

© UAEMoments The 5 Skills Required to Easily Find Jobs in the UAE Getting a job in the UAE is great, but it is not easy and there are hundreds ... Read more »

Marvel debuts the Moon Knight trailer during Monday's Cardinals-Rams game

© Provided by For The Win Fans of Marvel have been clamoring for the Moon Knight trailer, and the studio obliged on Monday night during halftime of the Cardinals-Rams game. The ... Read more »

Andrew Whitworth, David Long Jr. questionable to return with knee injuries

© Provided by Rams Wire Everything has been going right for the Rams against the Cardinals, but there are a couple of injury concerns. Andrew Whitworth exited the game after ... Read more »

Cold wave condition persists in Delhi as mercury drops to 9 degrees Celsius; AQI turns 'very poor' again

New Delhi | Jagran News Desk: Cold wave conditions persist in Delhi as the city woke up to another shivering morning on Tuesday. The current temperature in Delhi as of ... Read more »

Bigg Boss 15: Karan Kundrra's chat with his family leaves fans in awe; 'KUNDRRA FAMILY REUNION' becomes top trend – read tweets

© Provided by BollywoodLife.com Karan Kundrra has been locked inside the Bigg Boss 15 house since day 1. He has been one of the top contenders to win the trophy. ... Read more »

Threw chair at captor before escaping synagogue standoff with 2 others, says Texas rabbi

Threw chair at captor before escaping synagogue standoff with 2 others, says Texas rabbi The rabbi of a Texas synagogue where a gunman took hostages during livestreamed services said on ... Read more »

Why Virat Kohli the Passionate Performer is a Blockbuster Draw

© Provided by News18 Why Virat Kohli the Passionate Performer is a Blockbuster Draw Television coverage of live sporting action plays a critical role in these pandemic times. When fans ... Read more »

WATCH: Police Intervenes in Australia Cricketers' 'Loud' Celebration in Hobart; Root, Anderson Also Spotted

© Provided by News18 WATCH: Police Intervenes in Australia Cricketers’ ‘Loud’ Celebration in Hobart; Root, Anderson Also Spotted A few Australia and England players, including Joe Root, landed in trouble ... Read more »

PICS: Rashmika Mandanna is a total cutie in an oversized sweatshirt as she gets clicked at the gym

Rashmika Mandanna was spotted at the gym late at night. The Dear Comrade actress was papped as she was coming out of the gym during her workout session. The actress ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic