Facebook has very serious plans to launch payments through WhatsApp in numerous countries around the world throughout this year. The company has already conducted official tests in India, where already some users can send money to others through the instant messaging application and even make small charges in commercial establishments with the WhatsApp Pay service.
“WhatsApp already allows payments to be made among some users in India.”
After the success of these tests in the Asian country, Mark Zuckerberg, CEO and founder of Facebook, wants to replicate the experience in other territories. However, it is a very ambitious project to take the payment system around the world taking into account the large technical deployment required and the number of agreements with local financial entities that WhatsApp will need to sign. Clearly, it is a difficult task for the currently 400 employees that the firm has around the world and that, in addition, most of them work from offices in the United States, in California.
That is why Facebook has decided to open a large development center in London, from where the tasks will be carried out to launch the WhatsApp payment system in a good part of the world throughout the year. The company has chosen the London capital for the ability to attract talent from various parts of the world provided by the city, where engineers of many nationalities reside. Thus, from the same operations center, you can carry out works for different markets.
In this phase of expansion Facebook has moved to London human resources managers to hire more than 100 people, mostly residents in the capital or transferred from Dublin, to perform all the technical development of the payment system.
Zuckerberg is willing to monetize WhatsApp once, an application for which he paid 19,000 million dollars in 2014 and to which he had not yet taken money. The payment system, by which Facebook would take a small commission of each transaction, would be your big bet in this regard.
It is not clear if that small commission would be assumed by the user or the financial entity with which the company reached agreements. Neither will the countries in which the service would definitely be launched this year, but everything points to the fact that large markets such as Brazil, Indonesia and Mexico would be on Zuckerberg’s agenda, as well as consolidating the service in India.