Corporate Crossings | WhatsApp Pay India head Manesh Mahatme quits, likely to join Amazon

Commercial Crossings Manesh Mahatme resigns, likely to join Amazon. Manesh Mahatme, the head of WhatsApp’s India payment division, left the Meta Platforms-possessed establishment after around 18 months and is returning to Amazon, where he had previously had a position.

Mahatme joined WhatsApp last time after nearly seven years at Amazon, where he served as director and board member of Amazon Pay India and oversaw brigades for production, engineering, and growth. The departure of Mahatme comes at a critical moment for WhatsApp, which is expanding its payment capabilities in India and competes with well-established companies like Google Pay, PhonePe, and Paytm.

WhatsApp Pay India head Manesh Mahatme quits, likely to return to Amazon | Business Standard News

A Mahatme has left the company, according to a Meta representative, and an inquiry to Amazon was unanswered as of the time of publication. “We wish Manesh( Mahatme) every success in his future trials,” stated the Meta spokesman. ” Manesh( Mahatme) has been necessary for expanding the vacuity of ‘payments on WhatsApp ’ in India.”

Payments on WhatsApp are a precedent for Meta, and we will continue to introduce and drive instigation as part of our larger strategy to get the “coming 500 million Indians” onto the digital payments ecosystem, “Meta said. Recently, both WhatsApp and Reliance’s Jio Platforms introduced an online buying experience. It offers these businesses a boost and will enable them to contend with other e-commerce titans like Amazon and Flipkart. Thanks to the arrangement, JioMart would have access to over 487 million Whatsapp users in India.

A world first, JioMart on WhatsApp would allow guests in India, including those who have already bought online ahead, to fluently browse through the whole food selection. Without leaving the WhatsApp discussion, they may add products to the wish list and complete the payment. Also, Mahatme supported WhatsApp in carrying nonsupervisory concurrence to more than double the number of people using its payments service in India to 100 million.

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WhatsApp appoints Manesh Mahatme as Head of Payments in India - The Economic Times

In April of this year, WhatsApp, which is owned by Meta, received approval from the National Payments Corporation of India (NPCI) to add 60 million people to its payments service, bringing the total number of people to whom the unified payment interface, or UPI-based function, may be offered to 100 million. The NPCI has given WhatsApp authorization to launch on UPI under the multi-bank model in stages, enabling 20 million people to begin in November 2020.

Moreover, the figure was raised to 40 million last time. Manesh Mahatme, director-payments for WhatsApp India, had preliminarily stated that his business would unite with the NPCI to increase its subscriber base when the threshold was raised to 40 million. Abhijit Bose, Head of WhatsApp in India, had stated after Mahatme’s appointment last time that Mahatme’s experience would help the company maximize the impact and scale of payments on WhatsApp.

Mahatme has been one of the crucial initiators driving the growth of digital payments in India over the last ten years. Mahatme has 17 times the moxie of Citibank, Airtel Money, and Amazon’s digital financial services and payments. He also played a crucial part in developing and expanding the structure and payment system for Amazon India’s business. He earned degrees in electronics negotiating from BITS Pilani and SP Jain in Mumbai (Management).

Mahatme’s abdication occurs at a time when WhatsApp Pay’s services have only gotten a muted event in India. The platform has been crippled by government regulations, which have confined the number of people it can enroll, despite being the largest instant messaging app in the country with an estimated 487 million users.

WhatsApp Pay India head quits, joins Amazon | Deccan Herald

According to the most recent information, WhatsApp Pay has been permitted to expand its digital payment services to 100 million guests, a long way from its enormous consumer base. This quantum was originally just 20 million in 2020, but when authorities loosened regulations, it grew to 40 million last time. What’s Whatsapp Pay? WhatsApp Pay is an in-converse payment service that allows a person to make payments to their contact list over WhatsApp.

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It’s a payment result grounded on UPI that allows you to shoot and admit money. It was established by the Public Payments Corporation of India (NPCI). In India, WhatsApp Pay was introduced in February 2018 as a test. Cooperation with ICICI Bank allowed for the preface of payments over WhatsApp to a million guests.

The messaging app was permitted by NPCI on February 7, 2020, to gradationally carry out its digital payment service. In the morning, ten million people in the country would have access to financial services via WhatsApp. To use WhatsApp Pay, a subscriber must initiate payment contact. The stoner can set up their UPI account on WhatsApp after the request is entered. By hitting the share button and choosing “payment,” a person may incontinently send money over converse. The roadway menu contains a section called “payment.”

WhatsApp Pay India head Manesh Mahatme ends his 18-month stint, many join Amazon India – Tech Observer

A person can examine their account details and sales history in that section. By using the Unified Payments Interface (UPI) of the payment system, fund transfers can be initiated without disclosing the contributors’ IFSC codes or bank account numbers. Before UPI ID is implemented, WhatsApp Pay addicts are limited to sending money to their connections.

Edited by Prakriti Arora

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