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Whatsapp Said It Will Offer Cashback Rewards To Merchants And UPI Payment Service Users In India Soon.

Whatsapp Said It Will Offer Cashback Rewards To Merchants And UPI Payment Service Users In India Soon.

Highlights

• WhatsApp is set to launch a refund incentive for transfers worth up to Rs. 33.
• WhatsApp is implementing a cashback promotion that is being phased in.
• WhatsApp wants to see if there are any advantages to paying for Reliance Jio.

According to two insiders, WhatsApp will roll out cashback awards in the coming weeks to entice more Indians to use its peer-to-peer payments service and is testing similar incentives for merchant payments as it competes with rivals such as Google.

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The latest step comes just days after WhatsApp received regulatory approval to more than expand its payments service to 100 million users in India, the company’s largest country with over half a billion users.

According to people with direct knowledge of the company’s intentions, WhatsApp will introduce a payback offer of up to Rs. 33 for transactions users make on its payments service, which allows contacts to send each other money from within the messenger app, before the end of May.

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whatsapp said it will offer cashback rewards to merchants and upi payment service users in india soon.

In what one insider described as WhatsApp’s “user acquisition effort,” the incentive, which would be spread across three transactions, will be granted regardless of the amount being transferred,

even if it is as little as Rs. 1. The payback may appear insignificant, but Neil Shah, vice president of research at Counterpoint Research, believes it will be a “compelling enough” reason for users to switch to WhatsApp.

WhatsApp stated in a statement in response to a Reuters inquiry that it is “conducting a campaign delivering cashback incentives to our users in a gradual approach as a means to unlock the potential of payments on WhatsApp.”

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Separately, WhatsApp is piloting a program in which users who pay highway tolls, electricity bills, and other bills directly from the app would receive cashback incentives, according to the two people.

WhatsApp has also determined that it has to expand beyond peer-to-peer payments, since users are increasingly using competing applications to make merchant and bill payments, which, according to the study, will make WhatsApp a “more appealing proposition (for users) to switch over.”

In India’s Congested Digital Payments Sector, Whatsapp Competes With Alphabet’s Google Pay, Ant Group’s Paytm, And Walmart’s PhonePe.

According to Reuters, WhatsApp’s expansion has been stifled because India has banned the number of people to whom it may offer its payments service for months, fearing that extending it out to all of its users will overburden the country’s financial system.

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Sambhrama S
Sambhrama Shttps://premierenext.com/
My name is Sambhrama S, from Shimoga, Karnataka. I'm studying in MSC Biochemistry at Mysore University Mysore. I am interested in reading books, listening music, painting. I am also passionate to write good content on various day to day issues.
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