Facebook is reportedly testing a new payment service in India, and is currently hiring people to set up the service in the country. To recall, Facebook-owned WhatsApp messenger also introduced payment feature in its app recently.
As per FactorDaily, the social media giant is currently testing an option in the messenger app where users can top up their prepaid SIM without leaving the app.
It is also said to add more payment features allowing users to purchase items on Facebook Marketplace, peer-to-peer money transfers and pay merchants through the messenger app.
We must note that Facebook messenger payment services are active for users in the UK, US and France already.
Ever since Indian government had launched Unified Payment Interface (UPI), there's been a resurgence of digital payment services. Although PayTm has been amongst the most prominent names, big tech companies like Google and Amazon have sensed the opportunity and have entered the space.
The government’s Unified Payments Interface (UPI) has made it simple for developers to integrate the service in their applications without a fee.
Working on the same lines, Facebook messenger is said to be the next app to integrate payments and make the most out of the India opportunity.
With Facebook’s entry into the payments ecosystem, rivals like PhonePe, Tez, PayTm, or Amazon Pay will have another big name joining the battle. It would be interesting to see how the social media giant takes advantage of its 250 million users in the country.