With WhatsApp Pay, Facebook boss Mark Zuckerberg is pursuing a new method of payment. The new feature is set to debut in several countries soon.
WhatsApp Pay is designed to make paying bills or other transfers extremely easy and convenient. According to Zuckerberg, it is comparable to sending photos. The project is currently being tested in India. The new payment service is based on the Indian Unified Payments Interface (UPI). This means that users can connect their bank account with WhatsApp and make payments accordingly. Compared to the Economic India Times Zuckerberg explained:
I'm really looking forward to this and expect to see this rolled out in a number of countries and to make great progress here over the next six months."
According to the report, WhatsApp Pay will be introduced in other countries in around six months. However, it has not been said where exactly. It also remains unclear when the new payment service will be available in Germany.
What about Facebook Pay?
Now, however, analysts and observers are wondering what will happen Facebook Pay Zuckerberg introduced the service in November 2019 and made it available in the USA. In addition to Facebook, it can also be used in Instagram and WhatsApp. So the question now arises - what is WhatsApp Pay for? Is it a supplement to Facebook Pay? The platform Business Today has his own theory and explains the difference:
Unlike Facebook Pay, which seems to be more of an integration of cross-platform services, WhatsApp Pay will be a peer-to-peer service based on the Unified Payment Interface (UPI), allowing users to transfer money within the instant messaging application.
Good chances for an early start in Europe
According to the report, it is intended to be a supplement to the existing payment service - not a replacement. According to the Financial Times, Facebook plans to manage the new service from London. The decision is based on the fact that most people live in London, and they come from various countries where WhatsApp is extremely popular. The team is expected to consist of around 100 developers. It is not clear, however, whether this will be an advantage for the market launch in Europe. However, it cannot be ruled out that the market launch of WhatsApp Pay in this country could take some time. (Photo by Prathan / Bigstockphoto)
