Hike Goes The Unusual Way to Beat WhatsApp
Written by: Akshaya Avadhani - April 17, 2017
The Hike Messenger, the closest competitor of WhatsApp took the unusual route to beat the instant messaging application. The application is all set to launch payments option in the app. This will be linked to the government facilitated Unified Payments Interface (UPI) and will be the first application to have this option.
The Indian messaging app had in 2016 raised $175 million from Foxconn and Tencent. This made the total value of the company $1.4 billion. According to reports, the application plans to launch peer to peer payments within the app which will provide a platform for digital transactions for mobile phone subscriptions.
The application is allegedly holding talks with Indian bank so as to aid back end for the payments service plan. The application had revealed these plans to a popular business daily about their plans to integrate payments. This plan is similar to the one employed by WeChat, another messaging platform which is supported by Tencent.
Is this option is launched, Hike will become the closest competitor to WhatsApp which according to reports is already planning to launch payments in the next six months in India. WhatsApp plans to integrate with Bharat Interface for Money (BHIM) application and UPI to introduce this plan in India. It is assumed that all these modes of payment implementation are a move towards the Cashless India. A Digital India dream that Prime Minister has introduced alongside Demonetisation.
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