WhatsApp Pay India: In India WhatsApp Pay chief Vinay Choletty has quit within four months, as the digital payments industry continues to grow in the country. Choletty replaces Maneesh Mahatme, who joined WhatsApp from Amazon in September this year. “As I move on to my next adventure, I firmly believe that WhatsApp has the power to truly transform digital payments in India and I look forward to realizing its potential in the years to come,” Choleti wrote in a LinkedIn post. Looking forward to taking advantage.”
“I am very happy to see customers adopting new use cases using WhatsApp Pay and I will wear these badges with pride in my life.” Late last year, the National Payments Corporation of India (NPCI) approved the increase in the user cap for WhatsApp’s payments service to 40 million from the current 20 million. WhatsApp received approval from NPCI in April this year to expand payment service to 100 million users. Mahatme worked on WhatsApp Payments for about 18 months and according to Meta, he has been instrumental in expanding the reach of ‘Payments on WhatsApp’ in India.
Mahatme had joined as director and head of WhatsApp Pay in April last year. As per the data reported by NPCI, WhatsApp Payments recorded a total of 23.04 million transactions (2.3 crore) and the volume stood at 429.06 crore. While instant messaging platforms have seen growth in June 2022, the spike can be partially attributed to various cashback offers by instant messaging applications.
Google Pay is still at the forefront
Google Pay is still one of the most successful apps when it comes to UPI transactions. The app recorded a total of 200 crore transactions in June 2022. However, the transaction volume stood at Rs 3,55,137.20 crore. PhonePe recorded a transaction volume of over 273 crores. The transaction value is also very high at Rs 5,01,474.48 crore. We can expect WhatsApp to compete with GPay and PhonePe because of its reach.