WhatsApp is Planning to introduce Payment System in India !

WhatsApp needs no introduction, it is undoubtedly the best instant messaging app the world has ever seen.The news that is coming regarding WhatsApp these days is that they are planning to introduce a payment system for India so that the millions of users who use WhatsApp in their day to day life can send and receive money as well using this awesome application rather than just sending traditional media via it.

India is the biggest market for WhatsApp with over 200 million active users. One of the main reason that WhatsApp is targeting India for introducing this payment system, is that they want to contribute to the vision of Digital India. In India, the online payment system has taken a complete U-turn since the demonetization thing happen. Earlier, people used to make payments using the traditional way by waiting for hours and hours in the line of banks either for depositing or withdrawing money but since 8th of November when our honorable Prime Minister announced the discontinuation of 500 and 1000 INR notes, the online payment system has made a huge growth in the market and now people are more reliable on digital payment based system rather than following the same old traditional payment models.

The Facebook-owned WhatsApp is known for rolling out new features each n every day since the Facebook has acquired WhatsApp the user base has grown significantly, one of the main reason for this is that WhatsApp is never shy of experimenting with its features and already available User Interface and always tries to bring something new for its users. So now In order to bring another change, WhatsApp has started working on introducing payment via WhatsApp as well and it is believed that within 6 months from now, the payment system will get implemented via WhatsApp successfully.

However, it will be fun to watch how WhatsApp will compete against the already available Payment Systems in India like the Unified Payment Interface(UPI), the digital payment App BHIM and the Aadhar Payment System etc. 

Read about the BHIM App here and about IDFC's Aadhar Pay here.

This move by WhatsApp is also looked like a way to monetize its services as right now WhatsApp is completely free and it does not take any money from its users to use its services, in past WhatsApp use to charge an annual fee of 1 dollar but later on, it was withdrawn and WhatsApp become free for all. As in India people already use to sell their goods and services via WhatsApp by sending the pics of their products on it or by sending a link to their products and services on it, It will be good for them to take their payment via WhatsApp as well, once the payment service gets introduced.

That's it in this article of mine, It will be good for users in India once this service will get launched as there are millions of users in India who use WhatsApp and once WhatsApp starts supporting payment as well, we Indians will surely be using it rather than depending on some other payment app.