Financial Services
WhatsApp Pay | What a 30 percent cap on market share means in the UPI market
10 Nov 2020

With about 400 million users, many of whom are actively engaged, WhatsApp is well-placed in P2P payments. However, roughly half the UPI payments are for commerce, and this is where WhatsApp will have to think through new use cases to take on the incumbents

After a long wait, it’s finally here — the National Payments Cooperation of India (NPCI) has opened the gates for up to 20 million users to ‘WhatsApp’ money to their contacts. This allows Facebook-owned WhatsApp to participate in the UPI market, which, at about 2 billion transactions a month accounts for about 50 percent of the retail digital payments market in India, with a monthly throughput of ~$50 billion, or ~12 percent of the market by value).

The full article was originally published on Moneycontrol.

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