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Facebook Launches Whatsapp Digital Payment Service!

Whatsapp Pay To Be Launched
Source: TipRanks

Facebook Launches Whatsapp Digital Payment Service:Β Back in 2014, Mark Zuckerberg, the owner of Facebook bought Whatsapp Messenger.Β Facebook announced it was acquiring Whatsapp Messenger for US$ 19 Billion. Whatsapp is Facebook’s largest acquisition to date.

Since Facebook’s big buy, Whatsapp community has grown tremendously over the years. It has benefitted Facebook in many ways. Whatsapp, being in the lead since the start, has allowed Facebook to stay on the top.

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Let us dig into the details of Facebook and Whatsapp.

Why Did Facebook Buy Whatsapp Messenger?

Whatsapp industry has grown a lot since its release in 2009. More and more people are opting to use Whatsapp, and Facebook is aware of that. To invest in Whatsapp means to invest in the ‘new Facebook’.
Facebook And Whatsapp In The Same Boat
Source: Samaja Live English
Let’s see one can chat on Whatsapp as well as Facebook. Yet Whatsapp provides them with something Facebook doesn’t- Contact Numbers. Naturally, over the years, people have opted for Whatsapp over Facebook.
It, of course, made Facebook in a critical condition. So, Facebook decided to buy Whatsapp so that Whatsapp can’t overpower Facebook.
Since the past two years, Facebook is a dying industry. Therefore, Facebook is paying all its attention to modify Whatsapp in every possible way.
It is one of the main reason Facebook has launched Whatsapp Pay. Let us dig into the details.

Facebook Launches Whatsapp Pay

Facebook has launched on Whatsapp digital pay in Brazil, and now it is planning to do it in India. It has capitalised on its popularity in the emerging markets.

Whatsapp pay is an attempt to promote small businesses. Basically, in Whatsapp pay, one can transfer money or do small transactions via Whatsapp. One doesn’t have to use PayTM or Google Pay.

Whatsapp Pay In India
Source: Yahoo Finance

In January 2020, Mark Zuckerberg gave an outline for the new ‘Whatsapp Pay’ for India, Indonesia and Mexico. Facebook has already launched Whatsapp Pay in Brazil as it is the 2nd highest Whatsapp user lead by India.

Since then, Facebook has been trailing 400 million users (of Whatsapp) in India. However, no further details regarding the app are out as of now.

Other Details

Facebook announced that it had bought 10% stake in Indian Telecoms group Reliance Jio for $5.7 billion. The deal made Facebook a powerful ally to Reliance Jio’s chairman Mukesh Ambani.

Stay tuned to find out more!

 

 

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Pranjali Hasotkar

I weave words into meaningful catastrophes.

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