Meta Gears Up To Facilitate In-Stream Payments On WhatsApp After Striking New Deal With Stripe

Meta has struck a great deal with Stripe that would enable in-stream payments across its Whatsapp platform in Singapore.

The company says this new feature would enhance its business capacity across one of the greatest regions of South East Asia. Therefore, through a single chat threat, more businesses would now be able to conduct direct payments, it confirmed.

This new facility is created across the connect and checkout platforms of Stripe and it therefore allows those in Singapore to sell and purchase through direct means on the app. This means they no longer have to land on a particular website or open another application or carry out in-person payments.

Moreover, there is likely going to be a great payment method that entails credit as well as debit cards including PayNow. This is another name given to the popular payment systems across Singapore.

For those who might not be aware, PayNow is the name provided to the main payment facilitator in this part of the world. It has more than 80% of residents and firms that are making use of this option intensely. And when combined with the whole app, it gives rise to major chances for the app to become a huge place for business transactions among the massive 4.5 million users in the country.

That equates to a staggering 80% of the country’s population being active on the platform.

Facebook’s parent firm Meta has been working hard in terms of conducting in-stream payment options for users for so many years. It has collaborated with several providers and that is what meets the requirements of many key authorities while expanding the ability of the app across key markets.

When Meta bought the platform for a staggering $19 billion in the year 2014, there was a central element related to the monetization plans of this app. This would revolve around expanding messaging commerce as it saw huge popularity in apps like China’s WeChat. This has soon turned into a very essential utility for millions in the country.

Meta made some serious pushes toward expanding the Messenger app in the year 2016 and that came with the introduction of adding a series of options with various functionalities. But plenty of users across the West are yet to show too much interest in this beyond its main purpose. This has led to a further push on this front in terms of messaging business.

Tech giant Meta ended up redirecting the attention toward some of the same tools in the market of today including the likes of Brazil as well as India. It just might be able to combine messaging commerce with the growing usage trends. And such moves are slowing down thanks to a great many regulations being slapped on them. Meta says it’s trying to work around those stringent measures with the addition of such in-stream payments and with time, it hopes to undergo expansion in the market.

Now, it hopes to add Singapore to its growing list and while things might be progressing at a slow rate, it hopes to see major returns on such facilities as it ranges to an array of possibilities for businesses across the app.

There is a lot of potential also because trends prove how more people are making use of messaging to carry out interactions than the usual social media apps where they made posts. So it just raises the potential of such offerings.

The company hopes to make this available soon to users in Singapore in the next few months so stay tuned.

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