Amid stiff competition from UPI payment platforms in India, WhatsApp Pay is set to roll out several India-focused features, especially, cashbacks which are revolutionized by PhonePe, Google Pay, and Paytm among others.
As per the data, PhonePe stands ahead as the market leader with 46 percent share, followed by Google Pay at 34 percent; whereby WhatsApp Pay at less than 1 percent despite the total 40 million user base of WhatsApp.
WhatsApp is trying to take on its competitors by releasing more India-centered features such as Rupees icon in the chat composer, and INR 51 cashback after completing first five transactions. Also, the camera option itself lets users scan QR codes to make payments.
Manesh Mahatme, Director of payments for WhatsApp India has stated that the company has planned significant investments in WhatsApp Pay across India to accelerate growth.
