It is heard that WhatsApp is preparing to bring UPI based digital payment system. It is being said that this service may be launched by the end of this year.
According to a news published in The Can, WhatsApp is preparing to appoint someone to lead digital transaction business in India, which keeps track of the base, UPI and Bhim Digital Transaction services. But today does not confirm this news. Reports believe that the payment service for WhatsApp Space can be launched within about 6 months.
Facebook’s company has huge number of WhatsApp users in India, and the company has a good hold in the digital market. In such a case if the digital payment service is actually brought in, then digital payments will get a big boost.
It is also being said that the transaction details of users can also be sent to Facebook, with the help of which Facebook can send targeted advertisements to its users.
We can say that WhatsApp has probably decided to come in the digital payment sector after watching the growing trend of digital wallet in India since the ban on printing. Because WhatsApp is presently available in every smartphone. This will make the company less time and harder to popularize its banking system. But after the launch of WhatsApp’s digital payment system, the remaining digital wallets in India will get a big challenge.