|
|
|
Facebook actively working on WhatsApp Pay in India
|
|
|
|
Top Stories |
|
|
|
|
IANS | 25 Apr, 2019
Facebook is upbeat on the growth of digital payments in India and is
actively working on launching WhatsApp Pay soon, CEO Mark Zuckerberg has
said.
In an earnings call with analysts late Wednesday, Zuckerberg said the company is building out Payments for the global market.
"We
have a test that is running in India for WhatsApp now, we're hoping to
launch in several other countries at some point, but I don't want to put
a timeframe on that here, but it's something that we're actively
working on," he said.
WhatsApp Pay, stuck owing to India's demand
to store data locally, has not gone beyond the beta testing it did with
nearly one million users last year.
"In Instagram and Facebook,
you have shopping, and you have Marketplace and you have all the tens of
millions of small businesses that use pages and a lot that use
Instagram for sharing their inventory and being able to help people
discover and pay.
"When you're using a messaging service, that
everything there is very intimate and private so it feels like a more
natural space to be interacting with a business in a private way for
doing transactions," Zuckerberg added.
Facebook daily active
users reached 1.56 billion, up 8 per cent compared to last year, led by
growth in India, Indonesia and the Philippines.
This represents approximately 66 per cent of the 2.38 billion monthly active users in March.
According to Zuckerberg, privacy is the biggest area for the future of social networking.
"Today,
people increasingly want the intimacy of connecting privately as well.
So, I think there also needs to be a digital equivalent of the living
room -- a platform just as built out with all of the ways you'd want to
interact privately," said the Facebook CEO.
He said the digital
town squares like Facebook and Instagram will always be important and
will only continue to grow in importance.
"Over time, I believe
there's an even bigger opportunity with the digital living room to build
a platform focused on privacy. We all need to communicate privately,
and this service could be even more important in our lives. So, I think
we should focus our efforts on building this privacy-focused platform,"
he noted.
The privacy-focused platform will be built around private interactions.
"You
should have simple, intimate spaces where you have complete confidence
that what you say and do is private. Encryption. Your private
communications should be secure, and end-to-end encryption prevents
anyone - including even us - from seeing what you share," Zuckerberg
added.
"You shouldn't have to worry about what you share coming
back to hurt you later, so we won't keep around messages or Stories for
longer than necessary," he noted.
Facebook said it won't store
sensitive data in countries where it might be improperly accessed
because of the weak rule of law or governments that can forcibly get
access to users' data.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|