New Delhi: Meta-owned WhatsApp has confirmed that it is running a cash-back campaign in India to attract more users to its digital payment service.
The company is offering cashback of Rs 11 up to three times by sending money to three different contacts through Unified Payments Interface (UPI). WhatsApp,
“We are running a campaign offering our users cashback incentives in a phased manner, as a way to unlock the potential for payments. WhatsAppA company spokesperson told IANS.
“We will continue to raise awareness about payments on WhatsApp as part of our broader efforts to bring the next 500 million Indians into the digital payments ecosystem,” the spokesperson said.
If you become eligible for the promotion, you’ll see a banner, or a gift icon, within the app when you’re sending money to an eligible receiver, as per WhatsApp.
“Once selected, you can send money to any of your registered WhatsApp contacts and get Rs 11 cashback per successful transaction,” the company informed.
Google and Paytm have offered cash-back to users to drive greater engagement and retention growth on their respective platforms.
On its support page, WhatsApp said it will not offer cash-back for QR code payments, payments made on collection requests or by entering the recipient’s UPI ID, as well as on third-party online apps that use WhatsApp. Payment.
Earlier this month, the National Payments Corporation of India (NPCI) approved an additional 60 million users for UPI for WhatsApp – taking its limit for payments to 100 million.
Manesh Mahatme, Director – Payments, WhatsApp India, told IANS, “We believe there is an opportunity for UPI to make an even greater impact on the country – especially in rural areas where digital and financial inclusion plays a vital role in people’s lives. can improve.” ,
In November last year, NPCI had approved raising the user cap for WhatsApp’s payments service to 40 million from the current 20 million.
NPCI has been approving WhatsApp in a phased manner so as not to reduce competition in the digital payments space in the country.
WhatsApp launched its ambitious peer-to-peer (P2P) digital payments pilot project in India in 2018 with nearly one million users.
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