WhatsApp Pay still Facing a Lot Of Hindrances

WhatsApp Pay still seems to face hindrances. Though it has been rolled out in the month of February 2018, it is still said to be in the beta mode with pending regulatory approvals.

WhatsApp is still not compliant with data regulations in India. WhatsApp in this defence stated that it has already conformed with the central bank's diktat on data storage. This however seems to have fall short as per the RBI norms. Global firms like Google, Truecaller, PayPal and Amazon seem to have raced ahead of WhatsApp.

LOST ADVANTAGE

Having a large user base made a perfect sense for WhatsApp to diversify into payments. However, WhatsApp's entry into the booming space had bore the potential to create a churn in the market and some incumbents were also rattled. Also the CEO of Paytm had alleged that WhatsApp was trying to monopolise and cannibalise the market.

PROBLEMS GALORE

WhatsApp also seems to be facing issues with core messaging service. It has been facing problems of spread of fake news on its platform. Hate crimes had been fueled because of free messaging.

The payment market seems to be currently crowded with fintech firms, banks and mobile companies jostling for space. Seeing this small delay in launching payments can cause WhatsApp dearly.