WhatsApp launches payment service in India

WhatsApp has taken a huge leap forward in India to launch a payment service via the messaging application.

The new service which will enable users in India to receive and transfer money will introduce WhatsApp into the global fintech and payment industry with a huge potential for global cross-border payment potential.

WhatsApp will be launching the full version of the payment feature next month in India and there are no dates or current plan for a global launch of the feature.

However, WhatsApp is already facing stiff resistance from its competitors such as Google and Alibaba-backed PayTM. They are or the view that WhatsApp is not compliant with security standards that can expose users.

The Indian mobile payment market is lead by Google and PayTM.