WhatsApp Payments, Meta’s payment aggregator feature on the messaging app, is not looking to make it as a separate business, but wants it to be more of an enabler for WhatsApp Business, Ravi Garg, Director, Business Messaging, Meta India told The Hindu.
Speaking on the sidelines of the first WhatsApp Business Summit 2024 here on Thursday, Mr. Garg said that the payments aggregator should be seen as a different player in the market and was not to be compared with Phone Pe and the likes. “We are not looking at becoming a financial institution or fintech. Digital business is the strategy where we are enabling small businesses in large businesses and payment is one of the features we have,” he added.
His remarks assume significance as the company’s payment feature has not been able to increase its presence in a market dominated by Phone Pe, Google Pay and Paytm.
During the event, WhatsApp Business unveiled Meta-verfied badges for all small businesses in India beginning September 12 at a cost of ₹639 per month for a standard verification badge in India. This would involve verification of the businesses to avoid scams. In addition, the company also announced ‘WhatsApp Bharat Yatra’, an initiative to skill small businesses in tier 2 and tier 3 cities. WhatsApp Business also introduced customised messages feature to enable better reach for small business owners dependent on messaging apps.
“These features and programmes, which we are announcing today, demonstrate our commitment to helping businesses maximise their value per dollar while providing exceptional customer experiences on WhatsApp,” Sandhya Devanathan, VP, Meta in India, said in a statement.
Correction: The designation of Mr. Garg was corrected post publication.
Published – September 12, 2024 08:03 pm IST