Here’s what leading Indian banks have to say about WhatsApp Pay

India’s top banking and finance representatives share insights on their partnership with WhatsApp to provide peer-to-peer digital payments solutions using the newly-launched WhatsApp Pay.
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“For the majority of us, WhatsApp is the last screen we fall asleep to and the first screen we wake up to,” said Abhijit Bose, Director of Business Development at WhatsApp, delivering the keynote at Facebook’s Fuel for India 2020, a digital conclave featuring conversations and stories that are shaping India’s growth.

“To move to a truly cashless and inclusive economy. People who are new to digital payments need a simple, secure and trusted way to get onboard, and complete the last and most important leg of any transaction."

"WhatsApp Pay can be that bridge for many of our users. I’m really excited about the prospects of WhatsApp Pay. Our aim was to make sending money to your family and friends as easy and as secure as sending a message or attaching a photo. I’m delighted to share with you that WhatsApp Pay is now live across the country through our banking partners State bank of India, ICICI Bank, HDFC Bank and Axis Bank,” he added, talking about how WhatsApp was partnering with banks to provide peer-to-peer digital payments solutions.

Adding immense value to the growing payment ecosystem

Talking about WhatsApp Pay’s tremendous potential to benefit consumers across the country at scale, Parag Rao, Country Head - Payments Business, Consumer Finance, Digital Banking and Marketing, HDFC Bank Ltd said,

“HDFC Bank is extremely proud and privileged to be partnering with WhatsApp in this great endeavour. It also gives me great pleasure to announce that WhatsApp UPI payments is already live on the HDFC Bank platform, jointly adding immense value along with WhatsApp to the large, significantly growing payment ecosystem.”

Remote and seamless banking solutions on WhatsApp

“With the growing prominence of social media in our everyday lives, we believe that banking on WhatsApp offers immense convenience to our customers. It allows them to bank remotely and seamlessly on their own WhatsApp, without having to visit a bank branch. Keeping the customers’ convenience in mind, we launched some of our banking services on WhatsApp in April, during the pandemic to help them remotely access banking services without actually having to visit the branch," said Bijith Bhaskar, National Head - Digital Banking, Partnerships and E Commerce at ICICI Bank.

"We saw a very encouraging response from our customers, with over two million customers availing banking services on WhatsApp in a short span of time,”

Bijith also voiced his belief in the platform's unique ability to further scale essential financial services to people all over the country with ease. “We are, therefore, very delighted to partner with WhatsApp, and we wish them the very best in this endeavour,” he added.

Disrupting the digital payments landscape

“At Axis Bank, we understand the potential and the opportunity of digital payments in India,” said Sanjeev Moghe, EVP and Head - Cards & Payments at Axis Bank

Sanjeev spoke about how he believed that this can truly disrupt the digital payments landscape in the country with an experience for customers which is intuitive, digital and safe. “We wish the WhatsApp team the very best of luck as they look at scaling up, and we look forward to furthering this partnership’ he added.

The potential to impact millions with better access

Talking about how security underscores all aspects of the platform, Abhijit said, “As we enter a digitised world, security takes prime importance. While developing WhatsApp Pay, we put in huge efforts to ensure its safety. As a result, WhatsApp Pay is secure and highly reliable, and makes sure your life’s capital is safe. This is a momentous occasion for us and our partners."

"I’m sure these collaborations will impact millions of people and will truly mark a new beginning for people who will now have access to health, good business and good life.”

“We’d like to take this opportunity to thank the Government of India, RBI, NCPI and all officials and authorities who believe that WhatsApp could be a major partner in scaling our common vision of a digital, small business economy and financial inclusion by expanding digital payments to hopefully every Indian,” he added.

Edited by Kanishk Singh

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