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'Global Revolution' in the digital payment soon to be seen in India, customers to get 'benefit'

Tuesday - May 7, 2019 2:15 pm , Category : WTN SPECIAL
Competition in the digital payments companies
Competition in the digital payments companies

Global companies 'eyesight' on the Indian digital payments market

MAY 07 (WTN) - Since after the digital revolution in India, there has been a lot of increase in digital payments. In India, one, who has a smart phone, is making digital payments. There are many ways are available for digital payments today. After demonetization, there was a lot of increase in digital payments was seen, after which it is expected that there will be estimated $ 10 billion estimated digital transitions through digital payments till 2023.

In India, there are many companies including Paytm and Phone Pay for digital payments at this time. But to give a 'competition' to these Indian companies, there are many foreign companies are coming to give a tough fight, including WhatsApp Pay. For your information, let you know that Face book CEO Mark Zuckerberg announced on April 24 that the company was trying to launch WhatsApp Pay in India. It is being said that if WhatsApp Pay launches in India, then there would be a very 'tough challenge' for digital payments companies of the country.

The experts believe that the launching of WhatsApp Pay will force revolutionary changes in digital payments in India. That's because when global companies will challenge the companies present in India, consumers will get the best in this competition. But it is being said that due to the arrival of WhatsApp Pay, many companies, including Paytm will have to face 'challenges'.

The experts believe that the launching of WhatsApp Pay will force revolutionary changes in digital payments in India. That's because when global companies will challenge the companies present in India. India consumers will get the best in this competition. But it is being said that due to the arrival of WhatsApp Pay, many companies, including Paytm will have to face 'challenges'.

But it is being said that amid all these new companies, WhatsApp can emerge as a huge ‘power’ in digital payments. That's because there are approximately 30 million users of WhatsApp in India currently. There are over 30 million other users in India on Face book. That is, if WhatsApp launches its digital payment service, then after starting PTU UPI-based payment service, it will go very far ahead of the Paytm, having 23 million users.

As you know, these days, Indians spend the 'maximum time' on WhatsApp. Because of this, it is being said that Indian people would like the transaction through this. On the other hand, small and medium traders will adopt WhatsApp Pay and use it, which will increase their 'credibility'. By doing this, there will be easiness to these traders to take loans from common resources like banks.

Clearly, in the near future, there will be a huge 'global competition' in the field of digital payments in India. Among the payments companies like Paytm, Google Pay, Amazon Pay, Apple Pay and WhatsApp Pay, there will be competition to attract Indian customers. And in this competition profit is set to get Indian customers.