India's Paytm to take on WhatsApp with messaging service

India's Paytm to take on WhatsApp with messaging service

With WhatsApp hotly tipped to enter the Indian digital payments space, Paytm is set to make a move in the opposite direction, launching its own messaging service.

According to Reuters, citing sources, Paytm is expected to embed the messaging service - letting users send audio, video, pictures and text - within its app by the end of the month.

With 225 million customers in India, the move will see Paytm offer up serious competition to Facebook-owned WhatsApp, which itself has 200 million monthly active users in the country.

The pair are likely to be rivals on two fronts in the near future, with WhatsApp widely expected to roll out a UPI-based P2P payments service in India in the next few months.

With a strong mobile market and the recent ban on high-value banknotes, India has seen a surge in electronic payments. Another popular messaging service, Hike, has already added a mobile wallet for P2P payments to its app.

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