Financial Services
Whatsapp pay | what a 30 percent cap on market share means in the upi market
10 Nov 2020
1 min read
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).