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Peer Pressure
Business Today
|March 25, 2017
Why the digital payments space is abuzz with WhatsApp’s entry
Facebook-owned WhatsApp’s announcement to enter the digital payments space in India has created a flutter. Several top executives, including Paytm’s founder Vijay Shekhar Sharma, took to Twitter to express concerns about the messaging platform’s foray into this space. Their apprehensions, though, are not unfounded.
WhatsApp is the most popular instant messaging app in the country with over 200 million monthly active users. Undoubtedly, its entry in the digital payments space would offer users a very convenient option to transact online. Paytm claims to have around 280 million users in the country, but it is not clear how many of them are active.
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