One of the biggest messaging platforms/ social medium whatsapp will soon venture into helping it’s users exchange more than just photos and videos. Yes, it’s going the banking way. Whatsapp is targeting India, which leads in Whatsapp users in the world for a possibility in online transactions. The app, owned by billionaire Zuckerberg, will employ a director to make possible digital payments in the South Asian country with 200 million whatsapp users.
It is reported that the company is developing a system based on the Reserve Bank of India’s United Payment Interface, which offers a common protocol for money transfers between banks. A similar service was launched in the US by Facebook (also owned by Zuckerberg) in December and he seemingly wants to try the same with Whatsapp.
Messaging app WeChat is already a popular provider of similar services in Asia, while Chat App Line is popular for giving similar services in japan. A success in Whatsapp’s latest move will see more chat platforms venture into online financial transactions and in no time, the whole world will be sending money via whatsapp and messenger and all that.