WhatsApp has been trying to set foot in the UPI sector to compete with the likes of Google Pay and PhonePe in India. It recently got the approval to double the userbase, following which it started offering cashback offers to onboard new users. It seems like these efforts are finally proving profitable as sources now suggest that WhatsApp Pay has seen a significant rise in daily transactions.
A recent report by The Economic Times, citing sources familiar with the matter, suggests that WhatsApp has seen an increase in daily transactions after it started offering Rs 33 cashback for every Re 1 sent using the service to users. The daily transactions reportedly increased from a few hundred thousand a day to 2-3 million per day, which is a significant rise.
“We are running a campaign offering cashback incentives in a phased manner to our users as a way to unlock the potential of payments on WhatsApp. Offering safe, secure, and easy-to-use digital payments is an important part of scaling India’s digital economy, and we’ll continue to drive awareness of payments on WhatsApp as part of our broader efforts to bring the next 500 million Indians onto the digital payments ecosystem,” a WhatsApp spokesperson told The Economic Times.
