India’s biggest mobile wallet app, Paytm, is set to renew its features. The company may soon allow people to talk to each other from within the app just like a messaging app. Paytm doesn’t currently have any kind of messaging feature. In fact, no such digital wallet provides such a feature. The company is reportedly planning to introduce messaging features in its wallet app.
Paytm currently has over 225 million users on its wallet app. WSJ, on Tuesday, August 1, 2017, plans to introduce the messaging feature. According to some reports, people may be able to use this feature within the upcoming couple weeks.
Paytm’s move is contradictory to the current trends. This move can be seen as an exit from the recent digital trend, where most of messaging apps have been adding the payments feature to ease out the end users. Recently, the well-known Hike Messenger introduced a UPI support in its app in the previous month. Furthermore, the most popular message app, WhatsApp, plans to follow the exact same trails by the end of the year.
Some reports further mention that Paytm’s messaging update can fully add value to businesses so that they can directly get in touch with the message users.
According to experts, Paytm’s hope for further expansion is tight. Mostly, Paytm’s need came to end when the cash crunch in the country came to an end. Late last year, the Indian government banned in the overnight high-valued notes INR 500 and INR 1,000 bills. Together, these notes accounted for more than 80 percent of the cash in circulation in the country.
Moreover, there are plenty of messaging apps in the market. Two of such apps belong to Facebook itself: WhatsApp and Messenger. Both of them are extremely popular in India. According to the reports, WhatsApp boasts over 200 million active users in the country. It will be engaging to see how things will pan out for Paytm.