WhatsApp enters eCommerce market with cashback facility to woo users
WhatsApp releases the “WhatsApp pay feature” offering cashback to users on making payments.
With WhatsApp pay, users can now make transactions via WhatsApp to people present in their contact list. And to attract the number of users the company might be planning to add cashback rewards on money transactions. It seems like WhatsApp is planning to grab its big share from the eCommerce market with the introduction of this feature.
The WAbetaInfo reveals that recently WhatsApp has enabled this feature of payment in chat shortcut to allow users to quickly send payments from the chat bar. The news report further says that the users can receive cashback from using WhatsApp payments after 48 hours of sending the initial payment. Right now, this service is available in India and Brazil. Currently, WhatsApp is making its payment services only available to users who have not utilized the payment transfer system before.
Consider this or not but the trend of buying and selling of products online has increased especially after the pandemic eventually giving a boost to the development of eCommerce apps and websites. As statistics also suggest that the number of digital buyers is expected to become 2.4 billion by the end of 2021. This is one of the reasons that social media apps taking advantage of their massive number of users are moving towards the eCommerce market. As recently Facebook released its suite of eCommerce tools for businesses. While WhatsApp earlier this month also released its business finding feature in Brazil. In short, the social media apps considering the potential of this market are steering towards it by attracting users but many eCommerce apps are also trying to retain their customers as PayPal recently also introduced its “super app” to reserve its position in the market.
Coming back towards WhatsApp according to sources it is not known when this feature is going to release but the beta version indicates that this feature can come to our phones anytime soon.