Whatsapp to launch Inter-bank money transfer

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  • Whatsapp, Most used messaging app in India
    and larger user base is now planning to introduce inter bank money transfer feature.
  • Digital transaction has increased tremendously after Digital initiatives was taken by Modi Government which is rainforced by Demonetization that cleared all * High value currency from market and caused people to move towards online/Digital transactions to continue their business.
  • Paytm a local startup has seen tremendous growth after 2016 post Demonetization compared to other companies like freecharge and mobikwik.
  • Four banks will join whatsapp UPI and all transactions will be processed by ICICI.
  • This feature is most likely to give competition to Google's Tez, Paytm, BHIM, Airtel payment bank and other UPI apps already functional in India

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Whatsapp to launch Inter-bank money transfer | Ecency