Is WhatsApp Pay Becoming a Reality?
A lot has changed since WhatsApp launched ten years ago. Who could imagine it would be possible to do group video calls, send documents and even share your live location through one messaging app? Now, imagine this same app allows you to make payments.
There has been quite a lot of talk about WhatsApp Pay online and offline lately. What do we know so far?
Since Facebook acquired WhatsApp back in 2014, they have been working on possible ways to monetize the app. A recent report from WABetaInfo shows that the latest WhatsApp beta version for Android includes a major new feature called Facebook Pay.
As it seems, Facebook is building its own payment system for its family of apps, including WhatsApp. The company had already introduced Facebook Pay for WhatsApp in India but the launch has been delayed due to ‘political entanglements’ and regulatory roadblocks and is now being tested by WhatsApp beta users in Mexico. So it looks like India and Mexico will be amongst the first countries to get Facebook Pay for WhatsApp – and this is what the interface could look like:
In the past few years, we have seen huge changes in the online payments world with services such as PayPal, Bizum and TransferWise and it seems Facebook Pay for WhatsApp might be the next big achievement. As of now, this new payment system will work between user and user and will not be available between user and business, using a technology similar to WeChat Pay.
For now, we´ll have to wait and wonder. Is Facebook Pay for WhatsApp going to be the next big thing?
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