Indian digital payment service giant Paytm has decided to take on Facebook-owned WhatsApp messenger by launching its own messaging service on its app. This comes amid WhatsApp’s recent interest in foraying into the digital payment services in India.
Two separate media reports by Reuters and the Wall Street Journal said Paytm plans to offer the new messaging service embedded in its app to take on Facebook Inc's WhatsApp. The reports, quoting sources, said Paytm's messaging service will allow users to send audio, video and pictures and texts.
The move by the company to launch its own messenger service comes amid reports that WhatApp itself moving into the digital payment sector. WhatsApp, which has about 200 million users in India, has almost become the default messaging app for people in the country.
SoftBank and Alibaba-backed Paytm is headed by its founder and CEO Vijay Shekhar Sharma. It currently has over 225 million users in India.
Paytm is one of the most popular digital payment services with the word “Paytm” becoming almost synonymous with app-based transaction after Prime Minister Narendra Modi’s decision to demonetise Rs 500 and Rs 1000 notes in November last year.