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Worldpay comments on WhatsApp P2P launch in India

February 3, 2018 Apps No Comments Email Email

Last week, the Hindustan Times in India reported that WhatsApp’s highly anticipated peer-to-peer payment service may become available to users in India as early as next month. The big move of WhatsApp attracts great media’s attention. Worldpay, as a leading payments provider, would like to make a comment on this industry development.

Commenting on WhatsApp’s launch of peer-to-peer payments in India, Phil Pomford, General Manager for Asia-Pac, Global Enterprise eCommerce at Worldpay, Inc. said:

“It is no surprise that WhatsApp is expanding its services beyond messaging, and the introduction of peer-to-peer payments is a stepping stone towards the one-stop-shop model that is so popular elsewhere in Asia. With a whole range of commerce and payment services, the likes of Tencent and Alibaba move far beyond pure social interaction, instead offering an entire ecosystem of services which is integrated into every aspect of consumers’ daily lives.”

“Our own data indicates that India’s eCommerce market is set to grow by an astounding 24% per year over the next four years, making it worth US$104bn by 2021*. The country is poised to become the next centre of explosive eCommerce growth, even more so now that the demonetization drive is accelerating the push towards digital currencies. All of these factors add up to make India the ideal market for WhatsApp to diversify its offering, with this new ecosystem play fundamentally changing the way social platforms are used by Indian consumers.” 

*Worldpay Global Payments Report 2017

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