Since the demonetization, the demand for online payment has increased widely in India and many brands launched the payment solution applications to take advantage of the new payment solution demand of the country. Today we got a report which suggests that the popular instant messaging application WeChat is also gearing up to launch the payment solution application in the Indian market.
According to the source, the Chinese tech giant Tencent owned WeChat is all set to launch a UPI based payment app in India and the company already in talks with the National Payment Corporation of India (NPCI) and looking forward to obtaining the license and the company is planning to launch the service in India by May or June.
WeChat payment app will be dubbed as WeChat Pay and that will give head-to-head competition against the already serving applications such as BHIM, PhonePe, Paytm, and Google Pay. Having said that, the most favorite instant messaging application WhatsApp is also working for the payment solution application in India and recently Chinese electronic standard Xiaomi has unveiled its payment app in the Indian market and that is called Mi Pay.
As of now, we don’t have any information about the same but we are looking forward to hear more about the WeChat Pay in the coming days and we recommend you to stay tuned with us for the latest updates at your fingertips.