WhatsApp (Photo Credit: Whatsapp)
Have you ever thought of doing payments by WhatsApp? Well, the whole world is moving towards digitalisation and payments by WhatsApp is soon going to possible. Since last two months, we are hearing about the reports that WhatsApp is taking steps to set up the infrastructure for data localisation - to launch its payments gateway in the country. Well, the reports are true. Will Cathcart, global head of WhatsApp, has finally confirmed that the Facebook-owned social messaging app will launch WhatsApp Payments later this year.
While attending an event hosted by the company in New Delhi on Thursday, Cathcath said, "WhatsApp is deeply committed to India...Our next step is drive payments in India...All of which is based on UPI standard, partnering with banks here in India."
"We believe that if we get this [digital payments] right, we will accelerate financial inclusion and bring millions of people to India's fast growing digital economy. We can't wait to provide this service to more people later this year," Cathcath added.
On the occasion, Cathcath announced a partnership with NITI Aayog to promote women entrepreneurship ecosystem in the country. “As a part of the partnership, WhatsApp will collborate with NITI Aayog will announce a host of events that are aimed at addressing the specific challenges being faced by women entrepreneurs in the country,” he added.
In addition to this, WhatsApp also announced a partnership with the Women Transforming India (WTI) Awards 2019, which is a flagship initiative of NITI Aayog that is organised in partnership with the UN, as a part of which the popular social messaging app will give $100,000 (Rs 68.92 lakh approx) to the WTI winners.
"It is our honour to partner with NITI Aayog to help support future women business leaders in India" the WhatsApp global lead concluded.
It is worth mentioning here that NITI Aayog chief executive officer Amitabh Kant had earlier welcomed WhatsApp to India and asked the company to accelerate its efforts to launch its payments service in the country. "We welcome you, fulfill all the regulatory committments and drive digital paymennts in India...Indians love WhatsApp...They find it easy and simple. Therefore, once you get into digital payments the country will achieve digital payments by jumping in quantum leaps," Kant had said.