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The WhatsApp application plans to launch a service to lend money to users in India, since the Facebook application already contains a basic mobile payment system called Pay, And it is offered during the next days to users in the country, and it is possible to issue loans.
According to the British website “Independent”, a recent registration process for WhatsApp with local regulators in India revealed its plans to provide funds or grant loans according to the appropriate conditions.
Regulatory restrictions prevent WhatsApp from banking, which means any financial services will need to support existing lenders and banks, and WhatsApp did not immediately respond to a request for comment to deny or confirm these plans.
India is the largest WhatsApp market in the world, accounting for approximately 20 percent of its 2 billion active users per month.
Facebook announced a $ 5.7 billion investment in the Indian internet giant Reliance Jio Platforms Earlier this month, he said he hoped to “accelerate digital transformation in India.”
The investment makes Facebook the largest shareholder in the telecommunications company, and there have been previous news that WhatsApp will begin testing new features in cooperation with JioAnd the first service was launched that allows users in certain parts of India to order food through WhatsApp at nearby stores.
