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I am predicting that this will beat Google and paytm to take the first place (30% of market share). Whatsapp is insanely popular here in India. Phones are sold
by ffpip 6y ago
I am predicting that this will beat Google and paytm to take the first place (30% of market share). Whatsapp is insanely popular here in India.
Phones are sold here with features like 'Runs Whatsapp'.
My grandmother doesn't know to operate the android keyboard. She uses whatsapp. It's that popular.
- realshadow 6y agoPeople like your grand mother dont send money online.
- fakedang 6y agoThey might receive money though.
- perryizgr8 6y agoDigital payments have really picked up here. His grandmother may use it to pay the vegetable seller, or at any local shop.
- ffpip 6y agoWell now she can, once I set up everything for her (pin, bank account linking, etc)
- realshadow 6y agoI do not even let my parents have net/mobile banking bcz online is full of crooks and fraudsters. hey its just me.
- ffpip 6y agoYeah that's my only concern. I'll see if there is a way to setup payment notifications after asking her about it.
- cinbun8 6y agoThat's kinda the point
- neilsense 6y agoYou underestimate Indian grandmothers - they are better than the rest of us at using things like WhatsApp to it's fullest.
- realshadow 6y agoI never underestimate anyones abilities. its none of my business. if you think letting elderly being taken advantage of by online fraudsters is a good thing or far fetched idea, good luck with that.
- deleted 6y ago[deleted]
- kaushikt 6y agoYou are underestimating the small learning curve, even in case of grandmother. My mom's a grandmom who juts bought a Netflix, Prime and Voot subscription. I now bought her a new fire tv. More importantly, my parents now transact using Phone Pe. Yes, there are times though when she writes her message on paper, takes it's picture and whatsapps it to me because typing so much takes a lot more time.
- kumarvvr 6y agoAdding a contact to whatsapp, for payment means contact spamming. In no time, your phone will be filled with numerous contacts, that you may or may not remember. India has awesome apps for doing peer to peer payment. UPI system allows you to create custom UPI id's, linked to your chosen Bank account (you can link more than 1 account, with 1 acc being the active one at any given time, switch between accounts, etc), you can create multiple ID's linked to different bank accounts, you can create hundreds of thousands of ID's to link to invoices, contracts, dates, times, etc. All it takes for a payment is for you to share the ID, or convert it into a QR code for scanning by the other party. I don't see why WA would take 30% of market share. Most money transfers are usually commerce related, rather than linked to your social network.
- ffpip 6y ago> Most money transfers are usually commerce related, rather than linked to your social network. UPI can be used for everything. Business and friends. And whatsapp wants to pair this with WA business (which itself is growing at an alarming rate. I am getting OTP's from businesses on WA) If you are already using WA for sending money, why won't you use it for payments? The steps are the same. The interface is the same. People will always use an app their friends are using. Probably the main reason why Facebook hasn't died. Network effect.
- kumarvvr 6y agoNetwork effect is true for walled gardens. In this case, the UPI system is like a utility. Available to all, robust and incredibly low barriers of entry.
- ffpip 6y agoNetwork effect will still take place with these apps. The average Indian does not know UPI is a framework. I have to explain that any UPI app can connect with any other UPI almost weekly. My father still thinks that Google Pay can only send money to a QR code with the Google Pay logo on it.