Whatsapp Pay is the latest entrant in the mobile money space. Launched by Facebook Inc, WhatsApp Pay is already running in Brazil where it has received outstanding support and upon regulators’ approval, it will be launched in India and other countries. WhatsApp Pay enables a user to pay for goods or just send money as simple as sending photos. The company plans to make the WhatApp pay to be a universal digital payment method across the world.
Just some few days after the launch of WhatsApp Pay, Safaricom the leading telecommunication giant company that runs the so successful digital payment method M-Pesa has received tips from analyst on the possibility of its survival.
Analysts from Genghis Capital say the dominant local mobile money service key competitive edge against WhatsApp Pay and other upcoming mobile money applications are its deep integration with the existing financial ecosystem.
“M-pesa has got existing interoperability, integration and relationships with business services including banks that allow Customer-to-Business and Business-to-Business transactions. Interoperability with the existing financial ecosystem will be critical to success of WhatsApp Pay as a challenger,” they noted.
Further, the analysts expect M-Pesa’s ecosystem of value added services M-Pesa, Mswhari,KCB M-Pesa and Fuliza to offer the platform the edge against the competition.
On the other hand, financial analyst from finvelt.com has a reason to believe that M-Pesa will survive. Eric Magana a financial analyst with Finvelt believes Mpesa has a great advantage over WhatsApp in this region owing to the various products it offers to its clients. The Safaricom platform not only offers M-Pesa services but also Mshwari, KCB M-Pesa services with the latest entrant product being Fuliza. Eric believes that its dominance in the region will hold the grip tight despite the disruption brought in by WhatsApp.