WhatsApp Arms Itself for Payments in India
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The Indian digital payments space is rapidly expanding. From the likes of PayTm having established themselves in the sector to new entrants looking to ease it further for users, there’s no stopping the digital revolution in payments.
Given India’s evolving market, it comes as no surprise that established players in other sectors too are looking at giving payments a chance. With over 200 million active users, WhatsApp is now set to launch WhatsApp payments in India. Having rolled a beta version earlier, the messaging platform is now ready to roll out the feature to all users.
But it’s not going to be easy. With WhatsApp’s parent Facebook embroiled in data privacy controversies, numerous questions have been raised about the app’s payments feature with the most important one being - How safe is it really?
As WhatsApp readies itself to step into the world of payments in India, it is arming itself to ensure a smooth rollout.
Entrepreneur India takes a look at how the messaging platform is taking a cautious approach to ensure that the payments feature is well accepted without any hiccups.
To have a mass approach for its payments feature, WhatsApp had partnered with National Payments Council of India and adhered to the rules and regulations for the rollout of the feature. WhatsApp’s payments feature will be UPI enabled and will also "reflect the addition of payment interoperability features”.
With Facebook immersed in data privacy controversies and issues, it comes as no surprise that WhatsApp’s credibility was questioned by many. People also wondered about how much of the data will be passed on to its parent company Facebook. However, WhatsApp had earlier said that it shares limited data from its payment service with Facebook.
24-hour customer service
The messaging platform is cautiously venturing into the payments space. Considering the initial confusion or problems that could emerge with the payments feature, they are also looking at a 24-hour on call customer support. To have a mass outreach the call support will be available not just in English but also Hindi, Marathi and Gujarati and initially.