Why Meta’s Cred investment matters for WhatsApp Pay in India (opens original article in a new tab)
Meta's $900 million investment in Cred and Kunal Shah's appointment as WhatsApp's global head aim to boost WhatsApp's payments and commerce efforts in India, where it lags behind competitors.
- Meta invested $900 million in Cred, valuing it at $4.5 billion.
- Cred's founder Kunal Shah was appointed as global head of WhatsApp, aiming to expand into payments and commerce.
- WhatsApp Pay holds 0.65% of UPI transactions in India, lagging behind competitors like PhonePe and Google Pay.
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