Paytm is India’s top digital payment firm and apparently, it might become a worthy rival for Whatsapp as well. Both companies plan to extend to different domains and as it turns out, they will be competitors. More than that, they plan to business in the same sectors and even in the same country. India will be their main target and it is hard to say which one will win the Indian consumers.
WhatsApp wants to add digital payment services in India
According to various reports WhatsApp decided to start digital payment services. More importantly, it wants to do that in India, where Paytm is the top digital wallet. The company may be really affected by this decision since WhatsApp is a renowned brand that can influence the market greatly. This can be a direct threat for Paytm and we will see how it will handle it.
Paytm fights back and plans to launch a messaging service
Ironically enough, Paytm is also ready to beat WhatsApp at its own game. The company wants to launch a new messaging service and it will use its app in order to promote. Since the Paytm app has 225 million users, this can affect WhatsApp’s popularity in India.
And Paytm doesn’t want to stop there. Besides the basic functions like sending messages, pictures and videos, Paytm is planning to add more advanced features that will allow users to use the app for almost anything. Supposedly, the Paytm app will cover commerce, payments, ride-hailing and more. WhatsApp is not able to match these complex functions.
The Paytm app might be released by the end of the month so now all we can do is wait to see how this situation will evolve in the future and how will WhatsApp react.