After India and Brazil, WhatsApp is introducing business conversation payments in Singapore. Meta and Stripe launched the functionality in the region.
WhatsApp uses Stripe Connect and Stripe Checkout for online and offline in-app payments. In addition, businesses can accept credit, debit, and Singapore PayNow payments.
Meta stated just a few firms could take WhatsApp payments. It will add more vendors in the following months. WhatsApp Business helps businesses establish Stripe accounts and set up this service.
“Most Singaporeans I know chat on WhatsApp. In addition, the app may now pay local merchants. “The speed and convenience of WhatsApp payments will help businesses expand their revenue streams with new channels and access a wider customer base,” said Stripe’s regional head and managing director for Southeast Asia, Sarita Singh.
WhatsApp began testing UPI-based payments in India in 2020. The National Payments Corporation of India granted Meta 100 million users in 2022. In August, the business launched an end-to-end shopping experience with Reliance Jio in India, enabling clients to purchase goods via the app. After three years of peer-to-peer payments, WhatsApp debuted merchant payments in Brazil this month.
Mark Zuckerberg uses the messaging app’s 2 billion users to create regional payment options. Meta’s business products are WhatsApp’s main revenue source since it doesn’t have membership fees or adverts. In addition, WhatsApp Business services will convert from notification-based to conversation-based pricing next month.