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Facebook-owned <keyword id="790242" type="COMPANY" weightage="20" keywordseo="WhatsApp">WhatsApp</keyword> on Monday announced that it has appointed <keyword id="7634155" type="UNKNOWN" weightage="20" keywordseo="Manesh-Mahatme">Manesh Mahatme</keyword> to lead the growth of its <keyword id="11529890" type="UNKNOWN" weightage="20" keywordseo="payments-business-in-india">Payments business in India</keyword>. As Director of WhatsApp Payments - <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>, Mahatme will focus on enhancing the payments experience for users, scaling the service offering and work towards contributing to WhatsApp's vision of digital and financial inclusion in India. "We are excited to have Manesh join our WhatsApp India team. Manesh has been one of key innovators driving the growth of digital payments in India over the last decade, and his experience will help us maximize the impact and scale of payments on WhatsApp," Abhijit Bose, Head of <keyword id="1710446" type="PERSON" weightage="20" keywordseo="WhatsApp-in-India">WhatsApp in India</keyword>, said in a statement. "WhatsApp has immense potential to digitally empower people across segments and help accelerate the Government of India's efforts to drive financial inclusion through <keyword id="6358921" type="COMPANY" weightage="20" keywordseo="upi">UPI</keyword> and digital payments," Bose added. Mahatme brings with him 17 years of experience in digital financial services and payments across <keyword id="6400347" type="COMPANY" weightage="20" keywordseo="citibank">Citibank</keyword>, Airtel Money and <keyword id="18635" type="COMPANY" weightage="20" keywordseo="Amazon">Amazon</keyword>. He joined WhatsApp from Amazon where he spent close to seven years as Director and Board member of Amazon Pay India and led product, engineering, and growth teams. Mahatme was also instrumental in building and scaling the payment experience and platform for <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword>'s marketplace business. "Payments on WhatsApp is uniquely placed to be a significant partner in the country's growth agenda by making digital payments accessible to users across the length and breadth of India. I am super excited to be a part of this growth story," said Mahatme. The company said it is committed to providing its users with the best payments experience, in a secure manner. WhatsApp's goal remains to offer payments as an added convenience to the users, and enable them to seamlessly send and receive money. See Also - <a href="https://www.businessinsider.in/business/startups/news/tiger-global-overtakes-sequoia-as-the-top-investor-in-indian-unicorns-in-2021-cracks-15-deals-this-year-so-far/articleshow/83912624.cms">Tiger Global overtakes Sequoia as the top investor in Indian unicorns in 2021</a> <a href="https://www.businessinsider.in/stock-market/news/kims-ipo-listed-in-stock-market-at-over-20-premium/articleshow/83912694.cms">KIMS IPO: Stock listed at over 20% premium, loses initial gains after soaring to ₹1059 per share</a>

Facebook-owned WhatsApp ropes in former Amazon Pay executive Manesh Mahatme to lead its payments business in India

Head of WhatsApp Payment in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, Manesh <keyword id="2729808" type="General" weightage="100" keywordseo="mahatme" source="Orion">Mahatme</keyword>, has quit the Meta-owned platform and is reportedly headed to <keyword id="18635" type="General" weightage="80" keywordseo="amazon" source="Orion">Amazon</keyword> where he previously worked. Mahatme worked at WhatsApp Payment for nearly 18 months and according to <keyword id="399907" type="General" weightage="80" keywordseo="meta" source="Orion">Meta</keyword>, he has played an important role in expanding the access to 'payments on WhatsApp' in India. "We wish him every success for his future endeavours. Payments on WhatsApp is a priority for Meta and we will continue to innovate and drive momentum as part of our broader efforts to bring the 'next 500 million Indians' onto the digital payments' ecosystem," a Meta spokesperson told IANS on Thursday. Mahatme had joined as Director and Head of <keyword id="4878801" type="General" weightage="80" keywordseo="whatsapp-pay" source="Orion">WhatsApp Pay</keyword> in April last year. Prior to joining WhatsApp, he was a director and board member at Amazon Pay India for about seven years. Late last year, the NPCI approved increasing the user cap for WhatsApp's payment service from the current 20 million to 40 million users. WhatsApp received the nod from the National Payments Corporation of India (NPCI) in April this year to expand the payment service to 100 million users. WhatsApp India has made significant investments regarding digital payments on its platform across the country, to accelerate its growth in a market where adoption of unified payments interface (<keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword>)-based payments has exploded. Mahatme recently told IANS that the Meta-owned company has introduced several India-specific features in payments on WhatsApp over the last few weeks and have seen exciting results. "We believe that WhatsApp Pay can be a key partner to the NPCI and RBI as we all aim to scale adoption of UPI and financial inclusion to those most in need," the top company executive had said. The Unified Payments Interface (UPI) registered a record 6.57 billion (657 crore) transactions worth Rs 10.72 lakh crore in August, according to the NPCI data. The growth in UPI volumes is up almost 100 per cent (year-on-year) and amounts transacted grew by 75 per cent YoY in the month of August. The country crossed six billion transactions for the first time last month, logging 6.28 billion transactions worth Rs 10.62 lakh crore. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/james-webb-space-telescope-captures-striking-view-of-neptunes-rings/articleshow/94376980.cms">James Webb Space telescope captures striking view of Neptune's rings</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/most-long-covid-patients-recover-within-a-year-study/articleshow/94378142.cms">Most long-Covid patients recover within a year: Study</a>

WhatsApp Pay India head Mahatme quits, likely to return to Amazon Pay

<keyword id="790242" type="General" weightage="20" keywordseo="whatsapp" source="Orion">WhatsApp</keyword> India on Tuesday said that over the next six months, it will make significant investments regarding digital payments on its platform across the country, to accelerate its growth in a market where adoption of unified payments interface (UPI)-based payments has exploded. According to Manesh Mahatme, Director-Payments, WhatsApp India, as the adoption of 'payments on WhatsApp' increases with users across the country, the company looks forward to working with the National Payments Corporation of India (NPCI) to further expand it to all users. "We thank the NPCI for the increase in our cap to 40 million (from an initial cap of 20 million). Since our initial approval from NPCI, we have been working to deliver a simple, reliable, and secure experience for WhatsApp users that we hope will accelerate adoption of UPI for the "next five hundred million" Indians," Mahatme said in a statement. Last week, the NPCI approved increasing the user cap for WhatsApp's payment service from the current 20 million to 40 million users. According to Mahatme, the Meta-owned company has introduced several India-specific features in payments on WhatsApp over the last few weeks and have seen exciting results. "Over the next six months, we have planned significant investments in payments on WhatsApp across India — including many more "India-first" features — that we are sure will accelerate our growth," he informed. There is an opportunity, he said, for UPI to have an even greater impact for the country — especially in rural regions where digital and financial inclusion can significantly improve peoples' lives. "We believe that <keyword id="4878801" type="General" weightage="20" keywordseo="whatsapp-pay" source="Orion">WhatsApp Pay</keyword> can be a key partner to the NPCI and RBI as we all aim to scale adoption of UPI and financial inclusion to those most in need," the top company executive noted. India saw a whopping ₹7.7 lakh crore (over $100 billion by value) digital transactions via UPI in October for the first time, according to latest data released by the NPCI. In the month of October that saw record festive shopping across e-commerce platforms, digital payments witnessed 4.2 billion UPI transactions in total. In September, the NPCI recorded digital payments worth ₹6.54 lakh crore via 3.65 billion UPI transactions. Currently, <keyword id="6357886" type="General" weightage="20" keywordseo="phonepe" source="Orion">PhonePe</keyword> is the leader in the digital payments space in the country. PhonePe registered digital transactions worth Rs 3.06 lakh crore. PhonePe currently has over 325 million registered users. The platform is also accepted at over 22 million merchant outlets across India. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/these-are-the-best-windows-11-widgets-to-improve-focus-and-boost-productivity/slidelist/88001924.cms">These are the best Windows 11 widgets to improve focus and boost productivity</a> <a href="https://www.businessinsider.in/tech/enterprise/news/funny-memes-around-twitter-new-ceo-parag-agrawal/articleshow/88001274.cms">Between becoming Twitter’s CEO and gaining 10x more followers overnight, the craze around Parag Agrawal has taken some funny turns</a> <a href="https://www.businessinsider.in/tech/news/whatsapp-pay-to-get-several-india-first-features-including-cashbacks-in-the-next-six-months/articleshow/87999238.cms">WhatsApp Pay to get several India-first features, including cashbacks, in the next six months</a>

WhatsApp Pay looks to accelerate growth in India with significant investments over next six months

<ul><li>On Monday, Gunjan Patidar, Zomato’s co-founder and chief technology officer tendered his resignation.</li><li><keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword>’s CEO Suhail Sameer has quit the top job to become its strategic advisor.</li><li>There has been a lot of churn in new-age companies like Nykaa, and also big techs like Meta India, WhatsApp Pay, Amazon India and more.</li></ul>New age companies in India have been hit by a flurry of exits by top executives, leaving them scurrying for replacements. This comes at a time when startups have been battling funding winter and elevated inflation, in a rising interest rate regime. BharatPe, a fintech is amongst those with multiple high profile exits, including its co-founder and former managing director Ashneer Grover, along with his wife Madhuri Jain Grover – who not only had to leave the company, but were also sued by BharatPe in December 2022 for ₹88.6 crore. The company alleged that both husband and wife engaged in misappropriation of funds including creating fake bills, enlisting fictitious vendors and so on. Adding to BharatPe’s woes is the <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">departure</a> of its CEO Suhail Sameer on January 3. Sameer took over as the company’s CEO in August 2021, a year after being appointed as the company’s president. He will now serve as a strategic advisor starting January 7, 2023. Before Sameer, BharatPe witnessed the departure of four other high level executives last November. This includes Nehul Malhotra, head of PostPe which is BharatPe’s ‘Buy Now Pay Later’ arm. The others were the CTO Vijay Aggarwal; Rajat Jain, the chief product officer; and Geetanshu Singla, VP of technology. They moved on to pursue their own entrepreneurial passions, the company had then said in a statement. Zomato rocked by multiple top level exits, too Sameer’s resignation comes hours after Gunjan Patidar, Zomato’s co-founder and chief technology officer, tendered his resignation. Patidar was one of the first few employees of Zomato who built the core tech systems of the company. “Over the last ten plus years, he (Patidar) also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable,” said the company. Patidar’s exit is the third high-level exit at the food delivery giant in two months. In November last year, another one of Zomato’s co-founders Mohit Gupta tendered his resignation. Its head of new initiatives Rahul Ganjoo; and Siddharth Jhawar, vice-president of global growth also quit in the same month. The list goes on as in September 2022, Zomato’s deputy CFO Nitin Savara also tendered his resignation. The company has been bleeding money and it reported a consolidated loss of ₹251 crore in Q2 FY23. New age companies’ top heads move in and out of big tech companies There is a lot of churn among top executives of new-age tech companies as well as big techs. Online beauty retailer Nykaa’s CFO Arvind Agarwal, who had been with the company through its IPO, quit and joined fintech major PayU as its India CFO, this November. On the other hand, new-age companies have also been able to attract executives from major companies into their fold as well. Case in point is Sugar Cosmetics who brought in Amit Aggarwal, Marico’s head of finance of its India business, as its CFO. Adding to it, Amazon India’s director of grocery, food and health Sameer Khetarpal resigned and moved to Jubilant FoodWorks as CEO, a franchisee that runs Domino’s Pizza, Dunkin Donuts outlets in India. Meta India country head Ajit Mohan tendered his resignation in November 2022, to join rival Snap as the President of Asia Pacific. Following this, WhatsApp India’s head Abhijit Bose and Meta India’s public policy head Rajiv Aggarwal also resigned. The latter joined Samsung India. WhatsApp Pay’s director and head Manesh Mahatme also left his position in September to join Amazon India as director, product and engineering. Last but not the least, another shocking exit was of Parag Agarwal, former CEO of Twitter who was fired by Elon Musk in October, a year after he was appointed for the position. Soon after his ouster, Agrawal changed his LinkedIn bio to “Not the CEO you are looking for”. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/radiant-cash-management-shares-debut-at-a-10-premium-after-company-reduces-ipo-size/articleshow/96727374.cms">Radiant Cash Management shares debut at a 10% premium after company reduces IPO size</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/shark-tank-indias-season-2s-sharks-meet-the-serial-investors-cas-and-iit-and-iim-alumni/articleshow/96714262.cms">Shark Tank India’s Season 2’s sharks: Meet the serial investors, CAs, and IIT and IIM alumni</a>

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

Meta-owned <keyword id="790242" type="General" weightage="20" keywordseo="whatsapp" source="Orion">WhatsApp</keyword> has confirmed that it is running a cash-back campaign in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> to drive more users on its digital payments service. The company is giving away Rs 11 cashback up to three times by sending money to three different contacts via unified payments interface (<keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword>) on WhatsApp. "We are running a campaign offering cashback incentives in a phased manner to our users as a way to unlock the potential of payments on WhatsApp," a company spokesperson told IANS. "We'll continue to drive awareness of payments on WhatsApp as part of our broader efforts to bring the next 500 million Indians onto the digital payments ecosystem," the spokesperson added. If you become eligible for the promotion, you will see a banner within the app, or a gift icon when you're sending money to an eligible receiver, according to WhatsApp. "Once selected, you can send money to any of your registered WhatsApp contacts and receive Rs 11 cashback per successful transaction," the company informed. Google and Paytm have also offered cask-back to users to drive more engagement and retention growth on their respective platforms. On its support page, WhatsApp said that it will not offer cash-back for QR code payments, payments made on collect requests or made by entering the UPI ID of recipient, as well as payments on third-party online apps using WhatsApp. Earlier this month, the National Payments Corporation of India (NPCI) approved an additional 60 million users for UPI for WhatsApp - taking its cap to 100 million for Payments. "We believe there is an opportunity for UPI to have an even greater impact for the country -- especially in rural regions where digital and financial inclusion can significantly improve peoples' lives," Manesh Mahatme, Director-Payments, WhatsApp India, had told IANS. In November last year, the NPCI approved increasing the user cap for WhatsApp's payment service from the current 20 million to 40 million users. The NPCI has been giving approval to WhatsApp in a phased manner so that the competition in the digital payment space in the country is not stifled. WhatsApp kicked off its ambitious peer-to-peer (P2P) digital payments pilot project in India in 2018 with nearly 10 lakh users. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-may-be-rushing-into-electric-cars-when-scooters-continue-to-underperform/articleshow/91141264.cms">Is Ola hurrying into its electric car dream?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/adani-enterprises-sets-up-a-wholly-owned-media-arm/articleshow/91128727.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/google-expected-to-announce-the-pixel-6a-pixel-watch-and-android-13-in-i/o-2022/articleshow/91141500.cms">Google I/O 2022 – Pixel 6a, Pixel Watch, Android 13 and everything we expect to see</a>

Meta-owned WhatsApp runs cash-back campaign for making digital payments in India

<ul><li><keyword id="4878801" type="General" weightage="20" keywordseo="whatsapp-pay" source="Orion">WhatsApp Pay</keyword> is looking to accelerate its growth in India.</li><li>The company is planning to invest a significant amount for its growth in India.</li><li>It will introduce several India-first features to attract more customers to its payment service.</li></ul><keyword id="790242" type="General" weightage="20" keywordseo="whatsapp" source="Orion">WhatsApp</keyword> Pay has been looking to take on its competitors in India, <keyword id="2750705" type="General" weightage="20" keywordseo="google-pay" source="Orion">Google Pay</keyword>, <keyword id="6357886" type="General" weightage="20" keywordseo="phonepe" source="Orion">PhonePe</keyword> and Paytm, head on given its large user base in the country. However, currently the company is facing a market cap of only 20million users in the country from the regulator National Payments Corporation of India (NPCI). Although NPCI has increased the cap to 40 million users, it only amounts to 8% of WhatsApp’s total user-base in the country, claimed to be 500 million. On the other hand, its competitors PhonePe and Google Pay have a market share of 46% and 34% respectively, and WhatsApp Pay amounts to less than 1% of the market share. <cmsannotation type="cmsannotation" annotationid="India-first approach" comment="subhead" text="India-first approach">India-first approach</cmsannotation> To take on its competitors, Meta-owned WhatsApp is looking to make <a href="https://economictimes.indiatimes.com/tech/tech-bytes/whatsapp-pay-plans-significant-investments-in-next-six-months/articleshow/87968578.cms">significant investments </a>on its payment services in India to speed up its growth. In its India-centric approach, a large part of the investment is likely to go into cashback offerings to users on making transactions through its platforms. Recently, it was discovered that <a href="https://www.businessinsider.in/tech/news/whatsapp-offers-51-cashback-as-it-takes-on-phonepe-and-google-pay-in-india/articleshow/87357469.cms">WhatsApp was offering ₹51</a> cashback for the first five transactions done by its users. Luring customers through cashbacks also helped the likes of Google Pay and PhonePe grow in India. Apart from the cashback, WhatsApp has also introduced the ₹ symbol in its chats for payments. Even the camera icon in the chat composer allows users to scan any QR codes. According to Manesh Mahatme, WhatsApp India director-payments, the company has planned significant investments in WhatsApp Pay across India that will include several India-first features to accelerate the growth. <cmsannotation type="cmsannotation" annotationid="Less trust" comment="subhead" text="Less trust">Less trust</cmsannotation> According to a report in <a href="https://www.techradar.com/in/news/whatsapp-pay-looks-to-up-its-game-in-india-this-is-how">TechRadar</a>, WhatsApp will find it hard to win against the likes of Google Pay, PhonePe and Paytm due to its perception. A fintech-analyst claims that according to their research people are less trusting of WhatsApp with financial transactions. So another focus of the heavy investment in India would be on improving its image and sowing trust among its users to use WhatsApp Pay for transactions. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/meet-parag-agarwal-the-iit-bombay-grad-who-is-taking-over-from-jack-dorsey-at-twitter/articleshow/87989039.cms">Meet Parag Agrawal, the IIT-Bombay grad who is taking over from Jack Dorsey at Twitter</a> <a href="https://www.businessinsider.in/tech/apps/news/here-are-the-winners-of-google-plays-best-of-2021-in-india/articleshow/87997438.cms">Google Play’s Best of 2021 India Awards: BGMI, Garena Free Fire MAX, Bitclass and Clubhouse top the ranks this year</a>

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Facebook-owned WhatsApp ropes in former Amazon Pay executive Manesh Mahatme to lead its payments business in India

IANS

WhatsApp Pay India head Mahatme quits, likely to return to Amazon Pay

IANS

WhatsApp Pay looks to accelerate growth in India with significant investments over next six months

IANS

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

Bhakti

Rounak

Meta-owned WhatsApp runs cash-back campaign for making digital payments in India

IANS

WhatsApp Pay to get several India-first features, including cashbacks, in the next six months

Shadab Rabbani

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