WhatsApp is one of the most popular instant messaging apps. You must be using the WhatsApp to stay connected with your friends, colleagues, and others. A few months back WhatsApp launched the WhatsApp Pay Payment service after 2 years and testing started in India.
But you know that WhatsApp is now looking to test the loan, pension & insurance service in India. Today I am explaining to you about the WhatsApp Loan, Pension, and Insurance. Read this post till the end to know more about this.
Here is the Full Detail about the WhatsApp testing Loan, Pension, and Insurance.
Abhijeet Bose the head of the WhatsApp India shared earlier this week the details of the plan of the company for financial inclusion through video chat at the Global Fintech Fest. It now seeks to provide a financial solution for low paid workers in the unorganized sector.
The aim of the company fro over 300 million self-employed workers at Rs. 50, MSME provides digitization of businesses and insurance services through this platform.
Bose also said that the messaging spacious is already working with the popular private banks in India to establish WhatsApp– based services, including ICICI, Kotak Mahindra, and HDFC. They have done a good job in favor of banks well. ICICI and Kotak are said to have reached over 3 million new users in the past year.
Bose said the in the next two years we are committed to opening up entrepreneurial methods that we have never had before. We will start many experiments. The company will then produce fruitful results in services that cater to co-investment and scale projects. These services will be form WhatsApp partners and not the messaging spacious.
The company can add up to 200 million new users when the rollout the UPI payment service officially according to the company. Currently over 400 million active users of WhatsApp in India. The company follows the data localization policies now. The rollout is delayed due to this and it can be expected to clear soon.
Thus, we can expect UPI-based WhatsApp to arrive later this year, which will be followed by other financial services options sometime in 2021.