After India and Brazil, WhatsApp now supports paying businesses through its app in Singapore, starting this week.
While there are limited merchants as of now, WhatsApp said it’ll include more businesses and merchants in the coming months. Instant Messenger has partnered with Stripe to process the payments happening over its app.
Paying Businesses via WhatsApp
WhatsApp is expanding its business payments support to one more country this week – Singapore, after rolling out the same for India and Brazil in recent years. With this enabled, businesses selling goods or services via WhatsApp can charge payments there, making it better for all.
Meta has partnered with Stripe to process payments, both online and offline. Users can add payment methods such as their credit cards, debit cards, or Singapore’s PayNow fund transfer system for relevant businesses – who need to sign-up for WhatsApp Business client, which guides them through the setting up process. This also includes creating a Stripe account too if they don’t have one.
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While there are only a few businesses leveraging the support of this now, WhatsApp says it’ll add more in the coming months. Talking about this partnership, Stripe’s regional head and managing director for Southeast Asia, Sarita Singh said;
“The speed and convenience of payments through WhatsApp will help businesses expand their revenue streams with new channels and access a wider customer base.”
Given that Meta earns nothing from WhatsApp for users – as it doesn’t have any ads or platform fees – it should be focusing on businesses. The company is even planning to shift from a notification-based pricing model to a conversation-based pricing system for its Business services.
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