WhatsApp Pay Stumbles in India's Fintech Dominion Despite Massive User Base
Summary
WhatsApp Pay struggles to make inroads in India's $3 trillion fintech market despite boasting 500 million users, as regulators cap its user base for years, allowing rivals like Google Pay and PhonePe to dominate while WhatsApp treats payments as a side feature with minimal upgrades or marketing.
Key Points
- Meta's WhatsApp Pay failed to gain traction in India's $3 trillion fintech market despite having 500 million users.
- Regulators capped WhatsApp Pay's user base for nearly six years, allowing rivals like Google Pay and PhonePe to dominate.
- WhatsApp treated payments as a side feature with minimal product upgrades, marketing, or merchant outreach, even after regulatory barriers eased.