WhatsApp Pay may end Paytm’s hegemony in India

When Facebook CEO Mark Zuckerberg announced on April 24 that the company is actively working on to launch WhatsApp Pay in India, the message was clear to the digital payments leader in the country: Brace for the landfall.

The country’s digital payments industry — estimated to hit $1 trillion by 2023 — is going to witness a seismic change this year with global players joining the bandwagon, creating flutters among the existing players, including Alibaba-backed Paytm which rules the market.

Amazon just announced the launch of Amazon Pay UPI for Android customers in the peer-to-peer (P2P) transaction market.