With Whatsapp PayYou will be able to send and receive money with the easiest way in the world. According to Will Cathcart, head of Facebook’s WhatsApp division, this service could launch in India by the end of the year. ” We believe this will accelerate financial inclusion and add value to Indian citizens in the rapidly growing digital economy. “.
WhatsApp Pay: a new mobile payment service launched at the end of 2019
Eventually, the service will also be deployed internationally, with over one billion 500 million WhatsApp users. For now, we have few details on how the service works, except that it stores debit card data like payment systems like Google Pay and Apple Pay.
This will make payments as simple as sending a message on WhatsApp, without having to fill in your bank details each time. As a reminder, Facebook already offers a similar feature in Messenger. Knowing that the company is preparing to launch the Libra cryptocurrency by 2020, we can fully consider integrating the virtual currency into these systems. Facebook and WhatsApp could therefore be Libra exchange platforms.
It is not pre-earned for now. The Libra consortium, which consists of many companies including Mastercard, Visa, PayPal and Iliad, is facing fierce opposition from governments around the world. Its creation can only be made at the cost of many concessions compared to the initial ambitions.
Source : Business Today
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