WhatsApp has introduced a new feature in India to its largest market, enabling users to make payments to businesses directly within the app. New WhatsApp Business for Indian Businesses can increase earnings for small businesses.
WhatsApp Payment partners with PayU and Bengaluru-based Razorpay to provide support for various payment options, including credit and debit cards, net banking, and all UPI apps in India.
The announcement took place during WhatsApp’s Conversations 2023 conference in Mumbai, where Mark Zuckerberg, the CEO of Meta (the company that owns WhatsApp), emphasized how this feature simplifies payments for Indian users when interacting with businesses on the platform.
This payment feature is now available to all business owners in India utilizing the WhatsApp Business platform. WhatsApp has over 500 million users in India, this market holds great significance for Meta.
WhatsApp initially introduced its payment services, based on UPI (Unified Payments Interface), in India in 2020. It was initially piloted with a smaller user group and expanded to 100 million users the following year.
However, WhatsApp faces tough competition from other UPI-based payment platforms in India, such as Google Pay, PhonePe (owned by Walmart), and Paytm. These platforms have established a strong presence in the Indian market.
Earlier, Indian businesses on WhatsApp could only receive payments through UPI-based WhatsApp Pay, which limited their options. The recent update now allows businesses to accept payments through various third-party methods, making it easier for both customers and merchants.
Although WhatsApp Business has been a significant source of revenue for the company, it’s essential to note that WhatsApp doesn’t charge users directly for using the app and has no plans to introduce ads. To increase revenue, WhatsApp introduced paid features earlier this year, such as automation and custom merchant messages.
Also Read About New WhatsApp Channels
