Facebook Chief Executive Officer Mark Zuckerberg recently proclaimed he is actively working on to launch WhatsApp Pay in India. Consequently, Twitterati on Monday went insane Tweeting how it can hamper Paytm’s future plans spread like a wildfire.
IANS on Sunday reported, quoting industry analysts, that WhatsApp Pay is going to be the real game changer in the burgeoning Indian digital payments industry, likely to hit the $1-trillion mark by 2023.
"Paytm was most excited when demonetization was announced and that digital will make India. Just 2 years down the line Paytm is facing extinction," tweeted Joseph Oommen.
"Well, it was a WAR waiting to happen for sure..." tweeted entrepreneur Ajay Nandiwdekar.
WhatsApp currently has over 300 million users in India and once it starts peer-to-peer (P2P) UPI-based payments service, it would be in a really strong position.
"Winter's coming for Paytm," tweeted Rohit Kuttapan, a digital marketer.
"Your punchline may get changed from 'Paytm Karo' to "Paytm bhi kar lo" ! After #Whatsapp Payment. Lol," tweeted Anoop Mishra, one of the nation's leading social media experts.
Another Twitter user Tanmay said: "WhatsApp Pay RIP Paytm".
WhatsApp on May 3 told the Supreme Court that it would comply with the Reserve Bank of India's data localization norms before launching the full payments service in the country.
The WhatsApp Pay service in India may become fully operational in the next four to five months, according to media reports.
By Sowmya Sangam