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Fintech Insider Podcast by 11:FS
927. News: WhatsApp Pay fully rolls out in India and fintechs are spending more on ads than ever before
Jan 13, 2025
In this discussion, Kate Drew, a fintech research expert, Aditi Subbarao, specializing in enterprise search, and Rob Haslingden, focused on improving SME finance access, explore some hot industry topics. They delve into the launch of WhatsApp Pay for 500 million users in India, analyzing its competition and regulatory hurdles. The group also highlights a staggering 45% surge in fintech ad spending and the challenges that smaller firms face. Additionally, they touch on initiatives like the Besiktas Super App and the vital role of data in supporting SMEs.
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Quick takeaways
- WhatsApp Pay's rollout to 500 million Indian users marks a significant advance in the competitive digital payments landscape, necessitating effective marketing strategies.
- Fintech advertising spending has surged by over 45% in three years, creating challenges for smaller startups amid increased visibility and competition.
Deep dives
WhatsApp Pay Launches to All Users in India
WhatsApp Pay is now available to all 500 million users in India following the approval of the National Payments Corporation of India. The service utilizes India's Unified Payments Interface, allowing users to send money directly to their contacts. Initially launched in 2020 with strict user caps, the approval to access all users marks a significant expansion for WhatsApp in a competitive digital payments landscape. The success of this initiative will depend on effective marketing strategies to differentiate WhatsApp Pay from existing services like PhonePe and Google Pay.
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