MUMBAI - India's leading digital payments firm Paytm wants to launch a messaging service before the current month's over to rival Facebook Inc's WhatsApp, a source acquainted with the issue said on Tuesday.
Paytm, which is backed by Japan's SoftBank and China's Alibaba, needs to draw in individuals in India to utilize an informing administration installed in its payments app, which many as of now use to purchase everything from sustenance to plane tickets.
Paytm's informing administration will give clients a chance to send sound, video, pictures and messages, said the source, who declined to be named.
"Paytm needs to end up plainly a computerized universe for Indian trade where purchasers can impart, shop and utilize money related administrations," said Pavel Naiya, an expert at tech inquire about Counterpoint.
Paytm has more than 225 million clients in India.
WhatsApp, which had 200 million month to month dynamic clients as of February in India, its greatest single market, has additionally been taking a gander at moving into digital payment services there.
Prior this year, another Indian informing stage, Hike, revealed electronic payments service benefit in its application to take advantage of the development in computerized exchanges in the nation.
E- Payments service in India surged after the nation restricted old, high-esteem money notes toward the end of last year. Firms, for example, Paytm have since quickly expanded their piece of the pie.
Advanced Payments in India will bounce almost 10 times by 2020 to $500 billion, as per a 2016 report by Boston Consulting Group.
The Wall Street Journal was first to report Paytm's arrangement to dispatch an informing administration.
Paytm did not react to an email looking for input. WhatsApp was not promptly reachable for input.