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April 28, 2020Blog Posts

WhatsApp eyes lending feature in India as Amazon rolls out Pay Later to tens of thousands of customers

TechCrunch

WhatsApp,  which began testing its mobile payments feature in India two years ago, could offer at least one more financial service to people in its biggest market.

In a filing with the local regulator in India, the Facebook -owned messaging platform has listed credit as one of the areas it will pursue in the country. The Facebook-owned service declared with the local regulator earlier this month providing credit or loans as one of the “main objects to be pursued by it in the country.” No other financial service is listed in the filing.

At an event in Bangalore late last year, Abhijit Bose, WhatsApp’s head in India, said he believed that the mobile payments market in India, which has attracted dozens of local and international firms in recent years, is still at a very early stage in the country and may eventually see firms move beyond just offering a way for people to send money to one another.

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