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We'll soon meet in your inbox. Please wait... Market observers say the challenge of India’s sophisticated payments architecture, a raging political debate around ownership of digital data, coupled with the social messenger’s global experiences such as in Brazil could be the reasons. Within a few days of WhatsApp’s payment service going live, the central bank of Brazil had taken it down owing to an uncertain regulatory climate. A WhatsApp spokesperson confirmed the development. “That’s correct,” the spokesperson said, responding to ET’s mailed query on whether the slow start was ...

February 9, 2021 WhatsApps’ payment service in India has got off to a sluggish start in the last few months, but is slowing gaining traction over payments apps. While several third-party apps on the Unified Payments Interface (UPI) have a higher market share than WhatsApp, in just a few months it has beat several banking and third-party UPI apps that have been around for longer. According to data from the National Payments Corporation of India, WhatsApp Pay processed 5.6 million UPI  transactions worth Rs 36.44 crore in January 2021, compared to 8.1 million UPI transactions worth Rs 29.72 ...

Post layoffs, Indian platforms look to hire key employees from ByteDance (Photo: AFP) Share Via Read Full Story Indian short-video platforms are looking to hire key employees from Chinese company ByteDance, now that the TikTok owner has announced significant downsizing in India. While the two richest Indian short video platforms, ShareChat and DailyHunt, haven’t publicly commented on the issue, smaller ones like Chingari, Bolo Indya, Mitron and Trell have all said they will be looking to hire employees who are leaving the Chinese giant. “While these are super tough times, we would love to...

percent in volume (approx. 5.93 to  34.35 billion transactions) and value (approx. Rs.920.38 to Rs.1,623.05 trillion) respectively over the last five years (March ‘15-’20). The RBI’s persistent steps furthering digital payments have supported last year’s challenges and forced wide-spread digitization. The key initiatives last year, and their impact in the new year, are looked at here. 1. The changing face of UPI- Zero MDR, new revenue streams and the 30% cap Last year started with zero MDR's implementation, changing UPI’s revenue potential and converting a previously incentive-ba...

Highlights WhatsApp has a 40 crore user base in India. WhatsApp will be starting the digital payment service with a maximum registered user base of 2 crores. New Delhi: WhatsApp is one of the most used and largest messaging platforms. It keeps launching various features for the customers. Recently it launched much-awaited payment service in India.  WhatsApp has partnered with National Payment Corp. of India (NPCI) to start its Unified Payments Interface (UPI) based digital payment service, WhatsApp Pay. WhatsApp has a 40 crore user base in India. WhatsApp will be starting the digital payment...