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WhatsApp Pay India Head Manesh Mahatme Stated to Stop Agency Forward of Plans to Ramp Up Funds Service

The top of WhatsApp’s India cost enterprise, Manesh Mahatme, has give up after greater than a yr with the Meta Platforms-owned firm to hitch Amazon India, a supply instructed Reuters on Thursday.

Mahatme’s exit comes at a essential time for WhatsApp, which is looking for to ramp up its funds service in a extremely aggressive market and lock horns with extra established gamers similar to Alphabet’s Google Pay, Ant Group-backed Paytm and Walmart’s PhonePe.

Throughout his stint at WhatsApp Pay, the corporate gained regulatory approval to greater than double its funds providing to 100 million customers in India, its greatest market with greater than half a billion customers general.

Mahatme has joined as director of product within the e-commerce division of Amazon.com in India, the supply mentioned.

He joined WhatsApp Pay in April 2021. Mahatme was beforehand on the board of Amazon Pay India between 2014 and 2021, in accordance with his LinkedIn profile.

WhatsApp in a press release mentioned Mahatme performed an vital position in increasing entry to WhatsApp funds in India, including the funds service was “a precedence for Meta and we are going to proceed to innovate and drive momentum as a part of our broader efforts.”

Amazon didn’t reply to a request for remark.

WhatsApp rolled out cashback rewards this yr to lure extra Indians to its peer-to-peer funds service, despite the fact that the regulatory caps on variety of customers that may use its service meant it continues to face stiff competitors from rivals.

© Thomson Reuters 2022


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