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WhatsApp rolls out cashback reward for digital payments push in India

WhatsApp rolls out cashback reward for digital payments push in India
WhatsApp rolls out cashback reward for digital payments push in India

Meta-owned instant messaging app, WhatsApp, the most widely used smartphone app in India, is reportedly rolling out a cash-back feature where it will be giving away ₹11 ($0.14) for up to three times to its users if they make payments to three different people via the app’s mobile payments service in the country.

Apparently, the reward campaign comes as WhatsApp attempts to extend the reach of its payment service in India.

Earlier, the Meta-owned app was met with regulatory pushback in its effort to expand the service, but got some relief earlier this month after the National Payments Corporation of India allowed WhatsApp to expand the reach of its payments service to 100 million users from the previous 40 million.

NPCI is the government body that oversees the UPI payments protocol, which is also employed by WhatsApp for online payments.

The messaging app had started testing cashback rewards in India around November last year. The service can now be enjoyed by users who have been using WhatsApp for at least 30 days and are also registered for its payments service by adding their banking details.

On the company’s support page, it is written that the app has introduced the cashback promotion for select users, who will be seeing a banner on opening the app or a gift icon while sending money to an eligible receiver.

However, those using WhatsApp Business will not be eligible for the rewards.

Also, cashback will not be offered on QR code payments or money-collect requests, and users sending payments to UPI IDs of other apps will not be considered eligible for the promotion as well.

Google had also employed the cashback strategy when it launched its payments app, Google Pay, in 2017 in India. Google initially rewarded users $0.65, and has since offered even $40-50 to drive user retention and engagement.

Local payments apps Paytm and MobiKwik have also been rewarding cashback to users for years along with similar rewards and perks for making payments on its platform.

A WhatsApp spokesperson stated that the firm will continue driving awareness of WhatsApp’s payment service as part of its efforts to bring 500 million more Indians to its digital payments ecosystem.

Source credit: https://techcrunch.com/2022/04/27/whatsapp-pay-cashback/

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Aakriti Rao

Aakriti Rao

Aakriti Rao has always had a flair to pen down crisp and quirky content. A qualified English Literature graduate, Aakriti’s forte lies in creating content for varied genres in an utmost interactive way. Presently, she works as a content developer and writes articles spanning the latest business trends, market research, and industry news for Cue Report.