The goal of WhatsApp is to become your bank. In this manner, you can use the app to pay for everything, including your rent
With an update that promises to fundamentally alter how we use the messaging app, WhatsApp is poised to make its last foray into the financial sector. We’re not just talking about sending money to your contacts but also managing almost all of your payments from WhatsApp, as if it were an extension of your bank.
According to Android Authority, after analyzing the beta version 2.25.3.15 of WhatsApp, Meta is working on a full-fledged bill payment system that will allow users to pay for everything from rent to basic household services.
Six essential services will be covered by the new payment system: gas, water, electricity, landline, rent, and mobile recharge. Meanwhile, WhatsApp is also preparing to add an events feature to one-on-one conversations, adding more features to the app.
Meta has a strong strategy: WhatsApp has 532 million users in India. The company just got the green light from Indian authorities to expand WhatsApp Pay without restrictions, after months of operating with limits on the number of users who could access the service.
WhatsApp’s transformation into a financial platform seems inevitable, though there are regulatory and logistical issues that still need to be resolved. Meta is leveraging its dominant position in the messaging market to enter the digital financial sector, a move that could change the way we manage our money on mobile.