Saturday, January 28, 2023

WhatsApp Payments Feature Sees a Warm Acknowledgment From Users

WhatsApp Pay was started last month in India and started off casually with only 310,000 UPI transactions in November 2020, according to the National Payments Corp. of India.

The reason for the tepid response to Whatsapp Pay was its insufficient availability to users, with 400 million active users in India not getting the feature at the same time in India. However, specialists said with excuses, such as cashback and more merchant-centric features, the Facebook-owned firm can make headway in a market that is largely controlled by pure payment apps such as PhonePe, Paytm, and Google Pay.

NPCI has put a 30% cap on UPI transactions to conquer the monopoly of Google Pay and PhonePe, which in November recorded 960 million and 868 million transactions, individually. However, specialists believe WhatsApp still has a long way to go.

ALSO CHECK: Get an amazing discount with Mamaearth Coupons and The Man Company Coupons 

“Various users still do not know that WhatsApp has payment ability. As users start communicating with businesses and when businesses start sending payment requests via UPI, slowly we will see transactions grow on WhatsApp too,” said Arnav Gupta, analyst, Forrester Research.

The payment feature in WhatsApp is a Different Kind of experience. The standalone payment apps is combined in a chat window. “Many people don’t open WhatsApp with the purpose of making payments, unlike Paytm and Google Pay where you usually go to make payments,” said Faisal Kawoosa, co-founder and chief analyst, techARC.

Nevertheless, some feel that payment being a blended feature of the app has its own use case and that provides WhatsApp an advantage over others.

“Many retailers are already using WhatsApp from a transaction point of view for sharing goods photos and videos with consumers. The amount in that cases is done through third-party apps like Paytm,” said Sanchit Vir Gogia, founder and chief executive officer, Greyhound Research.

For the B2B and B2C business it is crucial for WhatsApp to have a huge fleet on the street, Gogia pointed out. Platforms like Paytm have a huge fleet of people on the territory who are educating and helping retailers set up online stores.

“Level of technology education on the ground is dismal. Though people use WhatsApp they need more courage to plan a Business store and do transactions on it,” he said.



Please enter your comment!
Please enter your name here

Most Popular


Nikki Tamboli becomes uncontrollable in front of the camera! Hottest poses given on the couch wearing a bra

Nikki Tamboli Bold Look: While on one hand, Jhanvi Kapoor's bold photos are wreaking havoc on social media, Nikki Tamboli is also leaving no...

Rubina Dilaik: This cultured daughter-in-law of TV took such photos in a braless top, fans became clean bold!

Rubina Dilaik Photos: TV actress Rubina Dilaik is often seen gathering the limelight on social media for her looks and style. Recently, Rubina Dilaik...

3 wheeled electric SUV launched in India, no fear of falling, no lack of storage

 HIGHLIGHTS iGowise BeiGo X4 Price Rs. 1.1 lakh (ex-showroom). This three-wheeler electric scooter has a boot space of 60 liters. The BeiGo X4 houses a...

Good news for the youth before the budget, the government will give unemployment allowance from April 1

Unemployment Allowance in Chhattisgarh: If you are an unemployed youth then there is good news for you from the government. On the occasion of...

Rajyog in Palmistry: Budhaditya Yoga is formed not only in the horoscope but also in the hand!

Rajyog in Palmistry: In palmistry, some Raja Yogas made in the palm have been described as very auspicious. Out of these Budhaditya Raja Yoga...

Most Popular


* indicates required