WhatsApp To Start Lending Money To Users Soon

Facebook-owned messaging app WhatsApp, for two years has been testing its mobile payment service WhatsApp Pay, which allow people to send money to other WhatsApp users. However, the WhatsApp payment service has been struggling and hasn't been much of a success, given that India is its largest market.

Not giving up, WhatsApp is reportedly working on entering the lending space in India. The company, in a local filing, has listed credit as one of its business plans. This comes a day after  Amazon introduced the 'Amazon pay Later' service in India.

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The technicalities of the credit offer haven't been detailed yet, and we can't say much about it. However, what we know is that this credit feature will be launched after WhatsApp Pay has been rolled out commercially.

For now, Facebook says that only 1 million out of the 400 million WhatsApp users in India has access to the WhatsApp Pay service. A full rollout will take place after the messaging service has taken care of all pending compliance.