On The Web
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“Up till now, WhatsApp users could simply enter any name of their choice of up to 25 characters, even emojis. But this will change now. WhatsApp will now ask users for their ‘legal’ names to proceed with UPI-based payments on the platform. These ‘legal’ names are the names associated with the users’ bank accounts. They can […]
How Meta Platforms Fell Behind in Indian Mobile Payments
“Mark Zuckerberg has pinned his hopes on commerce to save his business from stagnating user engagement and decelerating advertising revenue growth. But in the massive market of India, Facebook parent company Meta Platforms has fallen far behind in mobile payments, which serve as the crucial last step in closing an online sale. It needs to […]
Meta suffers setback with WhatsApp business payments in Brazil
“Meta’s long-awaited plan to allow users to send money to businesses via messaging app WhatsApp in Brazil has been hit by clashes with potential payments partners, marking the latest blow to the tech giant’s sprawling ecommerce ambitions. WhatsApp had aimed to launch a payments-to-merchant (p2m) function in Latin America’s most populous country late last year, […]
WhatsApp Permitted to Extend Payments Service to 100 Million Users in India
“The National Payments Corporation of India, the payments body that oversees the widely popular UPI instrument, has given approval to WhatsApp to extend its payments service to 100 million users in the South Asian market, a person familiar with the matter said. WhatsApp was previously allowed to rollout WhatsApp Pay to 40 million users in […]
Nedbank Partners Mastercard, Ukheshe for WhatsApp Payments
“Nedbank, in collaboration with Mastercard and fintech firm Ukheshe, has launched Money Message, a payment platform that lets small and micro businesses receive in-chat payments from their customers via WhatsApp. In a statement, the big-four bank says a first in SA, the solution will enable merchants to send an invoice requesting a payment from any customer through […]
Facebook Messaging Service Gets Delayed Brazil Nod for Payments
“Brazil’s central bank on Tuesday cleared the way for Facebook’s WhatsApp messaging service to let its users send each other funds using the Visa Inc and Mastercard card networks, months after vetoing WhatsApp’s initial attempt. When WhatsApp tried to launch the transfer service last June, the central bank said it could damage Brazil’s existing payments […]
Axis Bank Launches WhatsApp Banking. All You Need to Know
“Axis Bank today announced the launch of banking services on WhatsApp to enable its retail customers. This will allow customers to seek information regarding their account balance, recent transactions, credit card payments, fixed and recurring deposit details, besides getting their queries answered in real-time. By using WhatsApp Banking, customers can now chat with Axis Bank […]
WhatsApp Saw Dip in UPI Transaction Volume in January, NPCI Data Reveals
“WhatsApp appears to have not been able to convince more users to utilise its payments feature as the app received negative growth in terms of UPI transactions in January, according to the Unified Payments Interface (UPI) data released by the National Payments Corporation of India (NPCI).”
WhatsApp to roll out insurance and pension products on its platform in India soon
“WhatsApp is set to roll out health insurance and micro-pension products on its messaging platform in India through tie-ups with licensed financial services players.The move comes as the Facebook-owned tech giant is set to expand its ambit of services to finance, commerce, education and social welfare in 2021.”
On The Wires
nbsp;Making it Easier to Shop on WhatsApp with Carts
“Starting today, we’re excited to bring carts to WhatsApp. Carts are great when messaging businesses that typically sell multiple items at once, like a local restaurant or clothing store. With carts, people can browse a catalog, select multiple products and send the order as one message to the business. This will make it simpler for […]