Whatassapp, giant of technology, is about to launch a new service of online payment in India.
The new service would be used by about 400 million clients across the Indian states.
The company owned by “Facebook”, platform of social media, had checked the envisioned service with one million Indian clients last year.
It has announced that it will launch the payment service after getting permission of the authority regulating the banking sector in India.
Will Cathcart, chairman of Whatsapp, said that the payment service will make transferring of money as easy as sending a message.
He added that this service will be introduced in India before the end of the current year.
He declines to reveal whether the Indian authorities gave its final approving of launching the service or the company would get it later.
He affirmed that the new service will accelerate merging of the Indian economy with the world markets along with assimilating a larger number of people there to the digital economy in the world.
India is one of the fastest growing economies in the world.
Tens of millions of its populations use the Internet to complete the financial dealings.
Payment service sponsored by Whatsapp will compete with other services such as Google Pay and Amazon Pay.
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