During the earnings call, Zuckerberg said India was the largest country that the company is already serving. When asked to comment on efforts to introduce WhatsApp
Pay in India and Brazil, Zuckerberg said that the company is working with regulators in these countries. “We’re optimistic that we’ll be able to move forward. Although it’s taking longer than we would ideally like,” said Zuckerberg.
Abhijit Bose, WhatsApp
India head, had announced plans to foray into lending, micro-insurance, and pension products.
Sources say Facebook’s rival Google is also foraying into the digital lending space in India, which is set to become a $1 trillion opportunity in the next five years. Its digital payments app, Google Pay, is forging strategic partnerships with fintech firms to offer credit to consumers.
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