On Thursday, the online payment application announced the launch of their new messaging service called as ‘Inbox’. It’s an in-app based chat service which will provide consumer to chat, send and receive money to their friends and family. This speculation was first out earlier in August this year.

With the released statement by Paytm, the platform will have end-to-end encryption which will allow users to have privacy in their personal and group conversations. While using the Paytm app itself, one can use the messenger to send photos, videos, live locations, and share real-time moments with the built in camera. In addition to that, the messenger will have ‘Delete for All’ feature too so that one can recall their messages.

At first, the app update will available to Android users and later to iOS users. In order to improvise the customer experience, the app will also have ‘Notifications’, ‘Orders’, and ‘Games’ features too. Under the ‘Notifications’ panel one can view all the latest cash back offers for all categories; in ‘Orders’ one can view their transaction details. ‘Games’ has cricket and trivia engaging games.

The company aims with this distinct update, more merchants, local retail shop owners, home-based entrepreneurs will be able to interact with their customers, initiate payments via Paytm ecosystem. Deepak Abbot, Senior Vice President of the company believes that other than payments, consumers and merchants would also like converse with each other. ‘Paytm Inbox’ is made for that sole purpose so that merchants can build strong relationships with consumers.

Other platforms such as WhatsApp also have similar plans for their users. The California-based startup has been working on this for the past two years and this feature will be used to monetize the company. Recent reports states that the chat platform will launch its UPI-based payment in India by this December. As of now it has 200 million users in the country.

Same happened with Wechat when it overtook AliPay because of its social media messaging feature. Maybe Paytm can win on this stake.

What do you think about this new social media communication in this payment world? Share your thoughts in our comment section below. Subscribe with us to get your dose of interesting news, research & opinions in the startup segment. Fill the form below:

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