WhatsApp to empower these individuals, help them power-up their businesses, make money

WhatsApp instant messanger application is all set to  empower the 5 crore plus small and medium businesses (SMBs) in the country. Earlier WhatsApp picked 5 Indian startups that would receive nearly Rs 35 lakh ($50,000) each to develop country-first products and now will help small business owners in India. 

New head of WhatsApp, Will Cathcard who replaced Vice President Chris Daniels in March this year, would announce some key features for the SMBs on Thursday, July 25. 

"WhatsApp helps connect friends and families but it has fast become a driver of economic growth in India. Gateway to a Billion Opportunities' on how technology enables digital inclusion'', said Cathcard.

Here are the highlights:

1. The messaging app has been working closely on its business platform. Launched in January 2018, the WhatsApp Business app was developed to improve SMBs` communications with the customers.

2. In India, 84 per cent of SMBs think that WhatsApp helps them communicate with customers, and 80 per cent of SMBs think that WhatsApp helps them grow their business.

3. Cathcart would also visit Mumbai to interact with the SMBs, discussing how to mentor them while sharing his own journey as a developer to leading WhatsApp.

4. Facebook-owned platform is also planning to soon launch its digital payments service which would also enable MSMEs in the country.

5. The country`s digital payments industry is estimated to hit $1 trillion by 2023.

6. According to a report by Omidyar Network and the Boston Consulting Group (BCG), nearly half of MSME owners with annual business revenue between Rs 3 lakh and Rs 75 crore would use WhatsApp Payments once it is fully rolled out.

7. WhatsApp Payments was made available for 1 million Indian users in Beta last year and is now in the final stages of a complete roll-out.