"Indians love WhatsApp, and will love the convenience of transacting through the app. I foresee a trend wherein entrepreneurs and small and medium enterprises start embracing and using WhatsApp Pay," Prabhu Ram, Head, Industry Intelligence Group (IIG), CMR, told IANS. "In response to India's payments data circular, we've built a system that stores payments-related data locally in India," a WhatsApp spokesperson had told IANS. "With the huge user base, WhatsApp Pay is already a good match to become a Peer-to-Peer (P2P) platform for real-time payment," Naiya told IANS.The entry of WhatApp Pay will give a significantly more positive and viral impetus to India's digital economy. It is only matter of time when the Indian digital payments market sees a new leader.

Source: Economic Times May 05, 2019 03:11 UTC