WhatsApp Expands In-App Business Payments to Singapore with Stripe Partnership
WhatsApp is bringing in-app business payments to Singapore, following successful launches in India and Brazil. The messaging giant has joined forces with Stripe to provide this feature to users, making transactions within a chat possible.
Utilizing Stripe Connect and Stripe Checkout solutions, WhatsApp has developed an efficient payment system that allows users to pay businesses online or offline. Customers in Singapore now have the option to pay by credit card, debit card, or with the country’s PayNow fund transfer system.
Although currently limited to select businesses, Meta, WhatsApp’s parent company, plans to offer this feature to a wider range of merchants in the coming months. Interested businesses can set up in-app payments through WhatsApp Business, which also provides guidance on obtaining a Stripe account.
Sarita Singh, Regional Head and Managing Director for Southeast Asia at Stripe, commented, “The speed and convenience of payments through WhatsApp will help businesses expand their revenue streams with new channels and access a wider customer base”.
WhatsApp Payments has come a long way since its test mode launch in India in 2020, utilizing the nation’s Unified Payment Interface (UPI) network. Following approval from The National Payments Corporation of India, the service expanded to 100 million users in 2022. Subsequently, WhatsApp facilitated end-to-end shopping experiences with India’s Reliance Jio last August, and merchant payments in Brazil last month.
With this expansion into Singapore, WhatsApp continues to transform the way businesses interact with their customers and streamline payment processes, helping them reach a wider audience and grow their revenue.
