Investorideas.com


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Investorideas.com potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts    Investorideas.com crypto corner    Play by Play – the latest sports headlines and sports stock news    420 Cannabis Investor Ideas Call us 800 665 0411

 

Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

WhatsApp set to disrupt digital payments market in India, says GlobalData

 

March 8, 2018 (Investorideas.com Newswire) Facebook-owned messaging company WhatsApp has recently launched peer-to-peer digital payments beta service in India. The entry of the messaging app, which has more than 200 million monthly active users, is expected to disrupt the unified payments interface (UPI)-based digital payments landscape in India, currently dominated by Paytm, says leading data and analytics company GlobalData.

Reportedly, Facebook is working with top lenders, including State Bank of India, ICICI Bank, Axis Bank and HDFC Bank, to integrate the UPI-based payments solution.

Prarthna Tiga, Senior Technology Analyst at GlobalData, comments: "E-payments in India are already witnessing unprecedented growth since the government's announcement of demonetisation in late 2016. Now with the foray of WhatsApp, the country's smaller and struggling e-payments companies fear a unique threat in an already crowded and competitive ecosystem."

The Indian payments marketspace is already swarmed with over 60 non-banking players such as Paytm, MobiKwik, Amazon Pay and Flipkart (PhonePe). Established players such as Paytm are also feeling the push and fear that their position will be challenged with the entry of WhatsApp payments.

IMAGE FOR PUBLICATION: Please click here – 2017 Consumer Payments Insight Survey

While the messaging platform is the latest entrant, Google launched its payment app, Tez, in September 2016. It is creating fervour in the digital payments landscape, with transactions surpassing the likes of Axis Bank, one of the top digital players among banks.

However, it is interesting to note that even though India's e-payments market is expected to grow in the coming years, most e-wallet operators are not profitable in India yet. In fact, some who have been issued licenses by the Reserve Bank of India are still evaluating the situation before setting up operations.

Tiga concludes: "We expect consolidations to be the force in the next few years, with the bigger players focusing on opportunities to expand their footprint in India and other markets. In the meantime, smaller e-payments players are tapping into unidentified opportunities to stay relevant in the market.

"Therefore, creating a compelling case for people to use digital money is becoming absolutely necessary for smaller players, while bigger players are taking advantage of their wide user base."

For more information

To gain access to our latest press releases: GlobalData Media Centre

Analysts available for comment. Please contact the GlobalData Press Office:

EMEA & Americas: +44 (0)207 832 4399
Asia-Pacific: +91 40 6616 6809
Email: pr@globaldata.com

To gain access to our latest press releases and expert analysis on developments in your industry, please connect with us on:

Notes to Editors

  • Comments provided by Prarthna Tiga, Senior Technology Analyst at GlobalData
  • This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData's team of industry experts.

About GlobalData

4,000 of the world's largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData's unique data, expert analysis and innovative solutions, all in one platform. GlobalData's mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.


TechSectorStocks.com - investing ideas in tech stocks - mobile payments, social media, AI and Robotics, Drone Stocks, GPS, Internet of Things (IoT)

Like Tech Stocks? View our Tech Stocks Directory  Get News Alerts on Tech Stocks


More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp