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Paytm plans to launch messaging to compete Hike and WhatsApp

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Paytm will soon host a message feature to compete Facebook's WhatsApp and messages in India. The largest mobile wallet app in India may soon allow people to talk to each other from within the app. A source says the company supported SoftBank and Alibaba is reportedly planning to introduce messaging features in the wallet.

Tinuku Paytm plans to launch messaging to compete Hike and WhatsApp

The virtual wallet service headquartered in Noida that has more than 225 million users plans to introduce the messaging feature in the next two weeks. A company's strategic move is in response to market trends where messaging apps have added payment features that will harden the competition.

Hike Messenger apps last month have introduced UPI support for payment services, while WhatsApp plans to do the same later this year. Instead, Paytm as a payment app will add messaging features to match it.

Tinuku.com Paytm plans to launch messaging to compete Hike and WhatsApp

Paytm's move to expand its services also comes as the nation's cash crisis is over. Late last year, the Indian government created cash crisis overnight when the shortfall in currency Rs.500 and Rs.1,000 that account for more than 80 percent of cash circulating in the market.

Paytm has a very rapid growth in increasing market share. Boston Consulting Group in 2016 reported digital payments in India will increase 10-fold to US$500 billion by 2020.

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