Will Cathcart, who became WhatsApp’s new director after vice president Chris Daniels resigned in March, announced some key features for SMBs on Thursday.
“WhatsApp helps connect friends and family, but it has quickly become an engine of India’s economic growth,” Cathcart said.
After promoting 5 new Indian companies with $50,000 each to develop premium products, WhatsApp, owned by Facebook, is now poised to further empower the country’s more than 50 million small and medium-sized enterprises (SMEs).
The company wrote an invitation: “Join Will Cathcart, WhatsApp Global Director for an engaging event, ‘Gateway to a Billion Opportunities’, on how technology enables digital inclusion”.
Since its launch in January 2018, the WhatsApp Business application has been working closely on its business platform to make it a tool for the digital transformation of Indian SMEs.
In India, 84% of SMEs think WhatsApp helps them communicate with their customers, and 80% think WhatsApp helps them grow their business. Cathcart will also visit Mumbai to interact with SMEs and talk about mentoring them and sharing your own path as a WhatsApp developer.
In addition, the platform, owned by Facebook, plans to launch its digital payments service soon. It is estimated that the country’s digital payments industry will reach $1 trillion by 2023.
According to a report by Omidyar Network and the Boston Consulting Group (BCG), almost half of SME owners with annual business revenues of between Rs. 3 and Rs. 75 million would use WhatsApp Payments once it is fully implemented.
WhatsApp Payments was made available to one million Indian users in Beta last year and is now in the final phase of a full deployment.