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Facebook-owned instant messaging platform WhatsApp<\/a> and telecom operator Jio<\/a> plan to work with 30 million corner stores across India to help them transact digitally with customers in their neighbourhood. The companies will then extend the digital payment service to farmers, teachers, students and small and mediumsized enterprises.
The move will help WhatsApp directly take on established players Google Pay<\/a>, PhonePe and Paytm, possibly even dominating the sector. WhatsApp has more than 400 million users in India and is waiting for final clearance to launch its WhatsApp Pay service, which is designed to run on the Unified Payments Interface.
WhatsApp has technology and reach, while Jio has huge network among corner stores across India. Other fintech players have spent years building a network of merchants from scratch, something WhatsApp will not have to do. “Both of them combined will constitute a formidable player in the payment space.
It will surely make it difficult for other companies to compete,” said Sanjay Khan Nagra, partner, Khaitan & Co.
The combination could potentially be for India what WeChat-WeChat Pay, Alibaba-Alipay are in China, Nagra said. “In the payment space, only a select few are expected to emerge as winners. Pretty sure, this will also lead to some consolidation in the space,” he added.
Partnership Will Upend Payments Sector: Experts
Google<\/strong>
Pay and Walmart-owned PhonePe dominate the share of UPI<\/a> transactions, followed by Paytm. “This marriage is big. It is a collaboration between two giants. Facebook<\/a> has data and technology and Jio has market access. Only time will tell how other players in the market react to this. For existing players, it is very scary,” said Abir Lal Dey, Partner, L&L Partners.
They represent a competitive threat to most data-enabled startups, although the duo will have to work hard to solve the payments problem across India.
“It is going to become a data conglomerate, competing in 100 kinds of businesses. It is a very large ambition - wanting to serve everyone in tier 1-5 (cities),” said Mathew Chacko, Partner at Spice Route Legal. “They have set out for a long game. Given Reliance’s execution capability, (I) wouldn’t put it past them. Their team understands India.”
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Facebook-owned即时通讯平台WhatsApp和电信运营商Jio计划使用3000万角落商店在印度帮助他们办理数字与客户在他们的社区。公司将扩展数字支付服务农民、教师、学生和中小企业。
此举将有助于WhatsApp直接承担了球员谷歌支付PhonePe Paytm,甚至主导部门。WhatsApp在印度拥有超过4亿用户,等待最后的间隙推出WhatsApp支付服务,其目的是运行在统一的支付接口。
WhatsApp技术和实现,而Jio角落之间有巨大的网络商店在印度。其他fintech球员已经花了数年时间从头开始构建一个网络的商人,WhatsApp不会做的事。“他们两人组合将构成一个强大的球员支付空间。
它肯定会让其他公司难以竞争,“节目搜寻里的桑杰Khan说,伙伴,比& Co。
结合可能对印度WeChat-WeChat支付什么,节目搜寻里的Alibaba-Alipay在中国,说。“在支付领域,只有少数预计将成为赢家。很肯定的是,这也将导致一些空间的整合,”他补充道。
伙伴关系将颠覆支付领域:专家
谷歌
工资和Walmart-owned PhonePe主导的份额UPI事务,Paytm紧随其后。“这婚姻是大。这是两个大国之间的合作。脸谱网数据和技术和Jio市场准入。只有时间会告诉其他玩家在市场如何反应。对于现有的球员,这很可怕,”拉尔Abir戴伊说,伙伴,L&L伙伴。
他们代表大多数数据功能的初创企业的竞争威胁,尽管两人将不得不在印度努力解决付款问题。
“它将成为集团的数据,在100种企业竞争。这是一个非常大的野心,想要为每个层1 - 5(城市),”马修查柯说,合伙人法律香料路线。“他们有很长一段游戏。鉴于依赖的执行能力,(我)就不会把它过去。他们的团队理解印度。”
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