Paytm is preparing to introduce a new messaging functionality in its app. Currently, Paytm is having a user base of about 230 million people. Now it is aiming to convert its payment users to messaging which will help them communicate seamlessly and efficiently. It will also help businesses communicate with its consumers.
The new messaging is expected to be embedded by the end of this month. Paytm’s messaging feature will allow people to share text, video and images for free.
Paytm aims to launch one stop place for its users. It aims at offering not just payments but also an e-commerce platform, investment options in digital gold as well as booking services. The company also recently launched its payment bank. The move is also likely inspired by WeChat, the Chinese social media and chat app developed by Tencent.
Other internet companies such as Flipkart are also adopting a similar approach. Flipkart was also looking at a WeChat model to create an ‘everything app’ for services such as ordering food, hailing a cab, planning a vacation, or buying daily essentials.
However, Flipkart had failed at its attempt at an in-app chat service called Ping, which the company shut last year barely ten months after launching it.
Paytm is successful in attracting the audiences and is having the highest customer base of 200 million users. Hike claims to have over 100 million users. Flipkart has over 100 million users.
Paytm seems is to be moving in the reverse direction. A wallet app which is about to launch a messaging service. While others like Hike and Whatsapp which are the top notch in the messaging service world are expected to embed a unified payment system in their apps.
With the introduction of messaging service, Paytm wishes to overthrow the rival Facebook Inc’s Whatsapp.