WhatsApp: Here’s how you can pay with the Facebook messaging system
The most famous and used messaging system in the world is ready to introduce an important new feature: in-app payments. Sending money to a friend via chat will be possible in the coming months, and it will simplify many situations.
WhatsApp will allow you to exchange money or pay directly in the application in the future. The conquest of the world of digital payments starts from India and Asian countries where developers have already released a sort of function within the application that allows users to send or receive money directly from friends within conversations. An instrument that at the moment is still in a primordial phase, but that could lead the way for other countries like Italy in the near future.
WhatsApp: how in-app payments will work
WhatsApp now has almost 2 billion users a day. A huge pool that was questioned by the latest problems encountered with the system that allowed some attackers to easily access through a spyware user accounts simply with an unanswered call. Increasing the user base is not easy for WhatsApp, which in addition to placing the entire application under security must somehow bring some important news to those who use it daily.
Here is the idea that inserting real digital payments in-app could be a more than valid solution, especially due to the fact that the application has become completely free for years now. As mentioned, the first tests on a specific digital payment system have already started in India, and Zuckerberg seems increasingly willing to take them to the USA and Europe. It is precisely on this that the company has recently hired over 100 new employees who will form a group to develop and solve problems concerning the in-app payment system.
Facebook and the new GlobalCoin currency
Just the CEO of Facebook and of WhatsApp registered in Switzerland a few days ago a new company called Libra. A signal that would lead precisely to the project of the founder of the most popular social network in the world on the possibility of creating its own currency for payments on Facebook and also on WhatsApp.
The currency will be called GlobalCoin. It will be stable because it is linked to the value of the dollar and will arrive as early as the first quarter of 2020. However, as the trial with 200 million users going on in India for several months would prove, the official debut shouldn’t be from immediately the entire social empire of Zuckerberg.
What is interesting is the possibility that at least in the initial phase, Zuckerberg, decides to put his own currency for payments and money transfers for WhatsApp users. A system that could also bypass the current credit cards, given that the almost 2 billion people who exchange messages every day at least one message could make GlobalCoin a mass tool especially for the convenience of not having any kind of expense commission.
The rumors of a possible arrival of the social network in the field of digital payments have been chasing each other since the end of 2017. In practice since David Marcus, former president of PayPal, was hooked up by Menlo Park to start working on the project. An evolution that Zuck considers fundamental for the future of the platform to the point of having already wanted to invest 1 billion dollars.
The transfer of money through WhatsApp could be a destructive feature for the digital payment market. Competing with companies such as PayPal that has so far managed to offer a kind of market monopoly. The goal will be to make money transfer as simple as sending a message. Just a few clicks to send money to a friend or receive it on your account.
