India’s number one digital payments platform, Paytm is said to be working on including WhatsApp-like instant messaging.
Millions use Paytm in India to transfer money to businesses and individuals. The platform saw a huge spike in usage after Indian Prime Minister Narendra Modi’s demonetization of 500 and 1000 Rupee notes last November.
Paytm is now said to be working on including social features such as messaging and games. The IM market in India is headed by WhatsApp.
By adding features like chat and games, Paytm could be going for a model like the one used by Tencent’s WeChat. The Indian and Chinese markets have more similarities than just the size, and Paytm seems to be putting the money where the mouth is.
According to reports, the beta version of the chat functionality will go live by end of this month, with a public version expected to roll out soon after.
China’s Alibaba happens to be a major investor in India’s Paytm.