Facebook co-founder and CEO Mark Zuckerberg said on Tuesday that India is a very unique and important country with a great entrepreneurial culture, and that it wants to further deepen the recently launched payment services that allow users to make payments through WhatsApp.
Last month FacebookFamous WhatsApp Received Approval From National Payments Corporation of India (NPCI) For launching its payment services in India. In 2018, WhatsApp launched its test UPIIndia-based payment services, the first of its kind in the world, have around one million customers.
“We launched WhatsApp payments in India last month, now you can send money to your friends and family via WhatsApp, as easily as sending a message. This is possible due to the UPI system built in India,” Zuckerberg Said during a fireside chat with the chairman of Reliance Industries Mukesh Ambani.
He said the Unified Payments Interface (UPI) makes it easy for anyone to accept payments instantly in various applications.
Referring to the last Dirubhai Ambani’s vision of affordable connectivity in the country, Zuckerberg said, “… today Indians can communicate with each other at a cost less than the price of a postcard and we have tried to do it with a message … and hopefully we can do it with payments and so people of India Can use the new UPI system, I think it’s great. “
Following the approval of NPCI, WhatsApp launched its payment service in the country in a “graded” manner, with a maximum registered user base of 20 million in UPI. WhatsApp is the largest market in India with over 400 million users and will not compete with such players. Paytm, Google Pay, WalmartFamous Phone, And Amazon p In the country.
In April, Facebook announced an investment of $ 5.7 billion (approximately Rs. 41,900 crore) Geo Venues.
“I have no hesitation in maintaining the record. It is your investment that set the ball rolling. Not only for Geo, it is the biggest ever in the history of Indian FDI,” Mukesh Ambani said. The partnership between Geo and Facebook “proves it is great for India, Indians and small Indian businesses,” he said.
“I trust Mark that our actions in the coming months and years will speak louder than our words,” Ambani said.
Ambani said that with all the digitization measures taken by India, technology, democracy will create wealth and value for individuals and small businesses.
Stating that WhatsApp and Geo have hundreds of millions of subscribers in India, Ambani said that Geo Mart retail service “wants to serve tens of millions of small shoppers in India, they are the bed for employment”.
“This means that Geo brings digital connectivity, WhatsApp now brings digital interaction with WhatsApp Pay, and the ability to close transactions and create value, and Geo Mart brings unmatched online and offline retail opportunity to take our small stores across the globe and India And there is a chance to be equal, “he added.
Zuckerberg said that India has introduced many innovations in areas such as education and economic inclusion, and the decisions taken here will shape the global debate on how technology can bring more economic opportunity and better results to people and businesses.
He said that India is an important country for the social media giant and many new features designed in its various products are being tested here first.
“India is building local capabilities and technological capabilities to empower innovative new business models and provide access to digital and financial inputs for Indian citizens. Therefore, the decisions that are made here will create a global debate for the public on how technology can lead to greater economic opportunity and better results,” he said.
Most Indian companies are at the forefront of using technology to build safer communities, and there are more comprehensive economies.
“Whether it is in social commerce or education or financial services, a lot of innovations are happening here. And we are proud to partner with some of the teams working on these important challenges … India is a very unique and important country to us,” he said.
Saying that millions of Indians are using its products (Facebook, Messiah, Instagram, And WhatsApp) Every day, millions of small businesses across the country use WhatsApp business and messenger to connect, users need to manage orders and grow their businesses, Zuckerberg said.
“… we are in a business that serves small businesses and this is nowhere more true than in India. This is very important because small businesses here are key to global recovery. And we are focused on manufacturing to make sure we build the best tools for them,” he added.
He said the company was focused on ensuring that the technology “makes it accessible to all”, which was one of the reasons for its partnership with Indian Telecom Major. Reliance Geo has played such a pivotal role in “bringing Internet benefits to hundreds of millions of Indians” and fostering this entrepreneurial culture.
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