Paytm plans to unveil messaging service

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India’s leading digital payments firm Paytm will unveil messaging service to take on WhatsApp, according to reports.

Report says that Paytm will launch messaging service by the month end and will allow people to send audio, video, pictures and texts.

This move comes at a time when WhatsApp is also planning to foray into the digital payments space.

Hike also launched in-app electronic payments service June this year.

WhatsApp, which had 200 million monthly active users as of February in India, has also been looking at moving into digital payment services.

Paytm is India’s largest mobile payments and commerce platform. It started with online mobile recharge and bill payments and has an online marketplace today.

Paytm currently has more than 220 Mn registered users. Paytm is the consumer brand of India’s leading mobile internet company One97 Communications. One97 investors include Ant Financial (AliPay), SAIF Partners, MediaTek, Sapphire Venture and Silicon Valley Bank.

An e-commerce payment system facilitates the acceptance of electronic payment for online transactions. Also known as a sample of Electronic Data Interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking.