Messaging platform WhatsApp is used by all in today's time and now it is going to roll out cashback rewards to woo more and more Indians for its peer-to-peer payment service. Yes, and at the same time it is doing similar testing for merchant payments. Actually, this information has been received from two sources. That's because the company wants to compete with other rivals, including Google. Yes, and the decision comes days after WhatsApp received regulatory approval to more than double its payments service to 100 million users in India, which is the largest market with over half a billion users in total.
On the other hand, according to Reuters, WhatsApp will launch a cashback offer of up to Rs 33 before the end of May. Yes, and with this, sources directly aware of the company's plan said that 'users will be able to send money to each other from within the Messenger app to contacts from the account for transfer on their payment service.' It is being said that this incentive is present in three transactions, even though the money being transferred is Re 1. Apart from this, another source has been told in the user query drive of WhatsApp. WhatsApp cashback money may sound small, but Neil Shah, vice president of research at Counterpoint Research, said it would be a good reason for users to make the switch. Apart from this, Shah also said that 'you will not leave money on the table as an Indian'.
Whereas, in a statement in response to a Reuters question, WhatsApp said that "it is running a campaign to "properly offer cashback rewards to our users to unlock the payment feature on WhatsApp". In addition, in a major payment push, WhatsApp is testing a program where it will offer cashback rewards for users who pay highway toll and utility and other bills directly from the app. Apart from this, another source said that WhatsApp also wants to test such rewards for mobile payments users for Reliance Jio, India's largest telecom operator. Reliance is a partner of WhatsApp, which invested $ 5.7 billion i.e. about Rs 43,640 crore in WhatsApp's parent company Meta Platforms Inc in 2020. While WhatsApp did not comment on these plans, Reliance did not respond to a request for comment.
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