Indian company Paytm is going to launch messaging service soon

According to the Wall Street Journal’s report Paytm is going to launch their own messaging service in India to compete with other Messaging apps like WhatsApp by the end of this month.

Paytm is looking for to attract people in India to use the new messaging service embedded in its app, which many already use to buy everything from food to aircraft tickets. With Paytm’s messaging service one can send audio, video and images and texts, according to the source.

Paytm currently has greater than 225 million users.

Earlier this year, another home grown messaging platform Hike rolled out an in-app electronic payments service to cash in on rising digital transactions in India.

Online payments in India surged after the demonetization last year. Companies like Paytm have given that rapidly expanded their market share. Digital payments in India would jump nearly 10 times to $500 billion by means of 2020, in accordance to a 2016 record by Boston Consulting Group.

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