By TechCrunch Access The list reveals that WhatsApp Payments in India has shown credit as a key part of its business plan in its recent filing with the Ministry of Corporate Affairs. There is no clear information about credit, how the company will increase the number of users. For now, it remains to be seen whether this credit will be a micro loan for customers or a loan for purchasing goods through the Payments Portal. Regardless of which of the two, however, it is certain that the upcoming credit facility will be launched commercially in India as soon as WhatsApp pays out. The current COVID-19 epidemic is expected to inspire the world of loans and Facebook does not want to miss this opportunity anywhere.
That’s why Amazon has also decided to give instant credit for shopping on its site, for which the company has launched the next service on Amazon Pay. In this, loans are being given to pay groceries and utility bills. The new service gives the user the option to pay an additional discount the following month, and customers will be able to convert large amounts in installments up to 12 months. Flipkart is already offering an alternative called ‘Flipkart Pay Letter’ to give credit to its customers.
Facebook started launching WhatsApp Pay in phases after getting a license from NPCI in February this year. This feature is said to have reached 10 million or more users in India so far. WhatsApp Payment Service uses Unified Payments Interface (UPI) to enable mobile transactions. However, WhatsApp has more than 400 million users in India and the paid feature for all users will only be rolled out if approved by NPCI.