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WhatsApp targets digital payments in India
Digital paymentsWebsites, online services, appsIndia
WhatsApp, the messaging app, is going after the digital payments market in India and will use cash incentives to lure users to its service, according to reports.
WhatsApp only recently won regulatory approval to more than double its payments offering to 100 million users in the country. Numbers have been capped amid fears of the strains that could be placed on the financial infrastructure if payments were made immediately available to all its half a billion users. The app’s own research, according to Reuters, indicates that “incentives are among the top sign up reasons for our competitor apps” in India.