Since the demonetization, the demand for online payment has increased a lot in the country. And many well-known firms Such as Google, WhatsApp providing payments services to utilize the current market and the benefits. Well, now the social networking giant Facebook is also gearing to enter in this sector, as the company testing the payments service in the Facebook Messenger App.
According to the source, Facebook has already started the beta testing of the payments service in the Facebook Messenger app in India and the company has been working on building this payments platform for some time. Moreover, the company also hiring senior level executives of the country to lead the payments business.
Having said this, we know that WhatsApp and Hike both the instant messaging applications provide the payments service in the country. But the Facebook’s payments service will be different from the others, as it will be will allow peer-to-peer as well as peer-to-merchant payments. And as we know WhatsApp is also owned by Facebook so we can expect that the company will bring the same on WhatsApp as well.
At this moment the company allowing for the recharge of prepaid mobiles and users will also able to carry out the transaction for buying and selling products on the Facebook Marketplace. As the service is in the beta stage the company will expand the platform in coming days. It is worth to mention that Facebook has an upper hand in this business, as the company has millions of active users a month on their different application such as Facebook Messenger and WhatsApp.
