Whatsapp is readying an in-chats payments feature more likely to launch in December in India. This promises to make customers onboarding an extremely easy task. It could more likely be biggest threat for the players in the Indian digital payments ecosystem. This is also the first time that whatsapp is introducing the payments feature anywhere in the world.
The feature is in its final stages and whatsapp employees are testing it out. Sources said that “They are likely to do some sort of an extended beta program for the feature in November and by the December you can expect a full rollout”. The company has also partnered with three banks- State bank of India, ICICI bank and HDFC bank, to launch the feature.
This is the first time whatsapp is launching a feature like this anywhere in the world. The payments stack called unified payments interface is present in India makes it easy for others to integrate with the banks.
Whatsapp’s payments effort in india is being led by Neeraj Arora, it’s global business head. Paymets over UPI have been growing at a fast clip. With the payments interface, India has became a sort of ground zero for digital payments innovation.