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WhatsApp set to empower SMBs go digital in India
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SME Times News Bureau | 22 Jul, 2019
After picking 5 Indian startups
who would receive nearly Rs 35 lakh ($50,000) each to develop
country-first products, Facebook-owned WhatsApp is now set to further
empower the 50-million plus small and medium businesses (SMBs) in the
country.
Will Cathcart, who became the new head of WhatsApp after
Vice President Chris Daniels quit in March, would announce some key
features for the SMBs on Thursday.
"WhatsApp helps connect friends and families but it has fast become a driver of economic growth in India.
"Join
Will Cathcart, Global Head of WhatsApp for an engaging event, 'Gateway
to a Billion Opportunities', on how technology enables digital
inclusion, in the presence of Amitabh Kant, CEO, NITI Aayog," the
company said in an invite.
According to sources, the announcement would enable Indian SMBs further go digital.
The
messaging app has been working closely on its business platform.
Launched in January 2018, the WhatsApp Business app was developed to
improve SMBs' communications with the customers.
In India, 84 per
cent of SMBs think that WhatsApp helps them communicate with customers,
and 80 per cent of SMBs think that WhatsApp helps them grow their
business.
Cathcart would also visit Mumbai to interact with the
SMBs, discussing how to mentor them while sharing his own journey as a
developer to leading WhatsApp.
Facebook-owned platform is also
planning to soon launch its digital payments service which would also
enable MSMEs in the country.
The country's digital payments industry is estimated to hit $1 trillion by 2023.
According
to a report by Omidyar Network and the Boston Consulting Group (BCG),
nearly half of MSME owners with annual business revenue between Rs 3
lakh and Rs 75 crore would use WhatsApp Payments once it is fully rolled
out.
WhatsApp Payments was made available for 1 million Indian
users in Beta last year and is now in the final stages of a complete
roll-out.
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