Digital payments are slowly being integrated into applications for users leisure. WhatsApp has recently begun working on peer to peer digital payments for a little bit and the messaging app has decided to roll out this feature to a selective amount of users in India. India is currently one of the WhatsApp most important markets. There have been several reports that some WhatsApp users in India have taken notice of this new feature showing up in both Android and iOS versions of WhatsApp. WhatsApp announced that in April 2017, they were trying to expand their service to online payment services for India. However, even if the beta form has taken a year to arrive, the feature is slowly being rolled out.
WhatsApp is very popular in India since the amount of factories that are there. Since fast internet is not very common in India, text messaging as well as other features that WhatsApp has such as location sharing and photo are much more effective on a mobile device compared to an app like Facebook which has lots of heavy data software. Because of this, WhatsApp currently has about 200 million daily users which has passed has pass U.S. for the amount of time that is spent using various mobile applications.
This money transfer feature will be particularly useful for Indian users because it can be used in ways such as family and friends’ transfers and exchanges at local merchant shops. It is reported that WhatsApp has signed up some India banks to assist in the payment service. The messaging company also uses UPI, or Unified Payments Interface, that allows people to do a transfer to banks that are involved. The feature has not officially been released to all Indian users and it is unclear if it will come to North America or Europe in the near future.