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Despite a global pandemic, Nigeria’s financial sector has grown significantly in 2020. At the beginning of the year, Adedeji Olowe, Trium Networks CEO and Open Banking Nigeria trustee made some interesting economic predictions.
However, few people would have foreseen the wave of COVID-19 that caused massive disruptions in every economic sector across the globe.
Interestingly, some of Olowe’s predictions or “playful educated guesses” came to pass. Some came close, while others showed prospects.
From the historic acquisition of Paystack to the launch of Facebook Pay, Olowe walks us through some of his financial predictions for 2020.
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Colorful and busy Lagos in Balogun Market
Disappearing Messages
WhatsApp added disappearing messages feature a few months ago. The tool automatically delete chats after a time period of seven days. The feature is not enabled by default and in order to use it, you need to turn it on by visiting the profile of individual chats or groups. This feature is available for all the platforms, including Android, iOS and Web.
Group voice/video call limit increased
Due to the Coronaviruspandemic, several video call apps, including WhatsApp, witnessed a significant increase in engagement. As many people usually use WhatsApp for casual or formal conversations, the company decided to increase the voice/video call limit. The messaging service used to allow only four participants for group video or voice calls. WhatsApp extended the participant limit to eight users to help people connect better during the COVID-19 lockdown. The feature is available for all Android and iOS users.
Here s what happened in WhatsApp this week hindustantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hindustantimes.com Daily Mail and Mail on Sunday newspapers.
Payments, small businesses, customer experience focus areas: WhatsApp India head
The peer-to-peer, UPI-based WhatsApp Pay service was rolled out in November. (Photo: Reuters)Premium
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WhatsApp has over 400 million active users while the business app has 15 million users in India. It will continue to bring new features and tools to the business app, designed especially to help small businesses and kirana stores to grow and scale
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NEW DELHI: The recently launched UPI payments feature on WhatsApp is now active across India in partnership with Sate Bank of India (SBI), ICICI Bank, HDFC Bank, and Axis Bank, announced Abhijit Bose, chief executive, WhatsApp India on day two of Facebook’s Fuel for India 2020 virtual event.
(File photo)
BENGALURU: WhatsApp global head Will Cathcart said the messaging platform was in talks with banks and financial institutions for a broader rollout of its payments services in India.
Last month, National Payments Corporation of India (NPCI) finally gave its nod to the Facebook-owned company to roll out payments services gradually to 20 million users here.
It was stuck in beta mode for two-and-a-half years and restricted to just 1 million users on the Unified Payments Interface (UPI). WhatsApp has 400 million monthly active users in India.
“We are partnering with banks and financial institutions so people can get help and services without entering a local branch. Even as WhatsApp has become a way for hundreds of millions of people in India to communicate, we feel we are just getting started,” Cathcart said in a virtual event.