Merely days after WhatsApp was granted permission to expand its WhatsApp Pay userbase to 100 million in India, reports suggest that the Meta-owned messaging giant is now looking to attract new users by offering them cashback rewards. The company will reportedly start by offering a cashback of up to Rs 33 for UPI transfers to lure more Indians to use its in-app payment service. Here are the details.
According to a recent report, citing a couple of internal sources, WhatsApp will soon roll out a cashback reward program in India to enable users to earn cashback rewards for making UPI payments via WhatsApp Pay. Furthermore, the report mentions that the company is testing ways to offer similar incentives to users for merchant payments.
WhatsApp says that this move is to lure more Indian users towards WhatsApp Pay and compete with other UPI payment apps like Google Pay, PhonePe, and Paytm. The company reportedly conducted an internal study on the topic last year and discovered that “incentives are among the top sign up reasons for [its] competitor apps” in India.
