Whatsapp plans to introduce insurance, credit, pension services in India

Team Udayavani, Jul 23, 2020, 8:05 PM IST

Whatsapp pay plans to offer financial services like credit, insurance and pension. It has been working with various banks and financial institutions in India to make it easier for people to access financial services

Speaking at the Global Fintech Summit 2020, Abhijit Bose, head of WhatsApp India, said that the aim of whatsapp is to enable low-wage earners and the unorganised sector access insurance, micro-credit and pension. Also, that the goal is not to bring payments but services to the masses

He also said that whatsapp will introduces several programs with partners to test solutions to bring these services to people

In 2018, whatsapp introduced its payment services in India, which is a UPI based service that allows users send and receive money utilising the messaging platform