“SoftBank and Alibaba-backed Paytm is seeking to attract people in India to use the new messaging service embedded in its app, which many already use to buy everything from food to plane tickets. Paytm’s messaging service will allow users to send audio, video and pictures and texts,” said an official.
While E- payments honcho Paytm currently has over 225 million users, WhatsApp, which had 200 million monthly active users as of February in India, is reported as the biggest single in the market and has also trying to venture digital payment services.
Recently, the brand also appointed Kiran Vasireddy as the Chief Operating Officer (COO) for its payments business.
Digital payments reported a surge post the demonetisation drive last year. According to a research firm, digital payments in the country would report a jump of about 10 times and reach to $550 billion by 2020.