Anonymous

15 Dec 2020

∙

WhatsApp has launched its first digital payments option and has its eyes set to expand this option worldwide. Do you think it could be the next ApplePay, AliPay, GrabPay?

WhatsApp is owned by Facebook, which also means Facebook will have access to more of our personal details and now even bank account details.

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Lim Qin Da

17 Jun 2020

Finance & Business Analytics at National University of Singapore

Hey Anon!

I think it is still too early to tell whether this feature on WhatsApp will become the next ApplePay, AliPay or GrabPay, though it is possible. With the increasing number of people using Whatsapp to communicate, this new feature could just make it easier for peer-to-peer payments, where payments can be made in the chat itself without needing to exit and go through platforms like Paylah or Paynow in the Singapore context. In fact, it could be a really interesting platform since we do not see such similar payment options yet.

This is a really new feature and we will not be sure of its stability and security until it is launched further and tried out over time. Currently it is only launched in Brazil with only certain debit and credit cards supported. However, with the news that Visa are in talks with Facebook to make this payment option happen, it is definitely something that we can look forward to in the future!

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