After various hindrances, WhatsApp was finally able to make WhatsApp Pay available in India. However, the UPI-based payments service has a userbase cap of 20 million and is merely popular. To change this and make WhatsApp Pay a fierce competitor to some of the best UPI apps in India, the Meta-owned messaging platform might make some significant investments in India. The news comes after NPCI recently increased the user cap for WhatsApp Pay from 20 million to 40 million users in the country.
A report by The Economic Times suggests that WhatsApp Pay will make some sizeable investments in the next 6 months in India. The aim is to make it more visible and acquire a significant share in the market. Currently, WhatsApp Pay’s market share is less than 1% as compared to Google Pay and PhonePe’s share, which stands at 34% and 47%, respectively.
WhatsApp’s director of payments, Mahesh Mahatme (via ET) said, “Over the next 6 months, we have planned significant investments in WhatsApp Pay across India — including many more “India-first” features — that we are sure will accelerate our growth.“
