In a bid to grab a pie of the growing mobile messaging industry, leading digital wallet company Paytm is reportedly planning to start its own messaging service like Facebook-owned WhatsApp.
According to a Report:
- According to a report in Wall Street Journal on Tuesday.
- “The Noida, India-based company is preparing to introduce messaging functionality into its smartphone app”.
- However, was yet to confirm the news.
- According to the report, “the update and an official launch are expected to happen within the next two weeks”.
- According to reports, Neeraj Arora, WhatsApp’s Global Business Head, is currently member of Paytm’s board of directors.
- In addition,WhatsApp currently has over 200 million monthly active users in India and one billion users across the world.
- Paytm, on the other hand, has over 220 million users and has over five million offline merchants across India.
- Paytm, run by One97 Communication Ltd, recently raised $1.4 billion funding by the Japanese internet and telecom major SoftBank Group.
- The Competition Commission of India (CCI) approved SoftBank’s 20 per cent stake acquisition last month.
- “CCI India approves acquisition of 20 percent stake in One97 Communications Limited by SoftBank Group Corp,” the government agency said in a Twitter post.
- Paytm was launched in August 2010 as an online recharges and bill payments platform and soon expanded into online and offline use-cases.
- In January 2014, it launched the Paytm Wallet.
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