- Metaplatforms Inc METAowned by Manesh Mahatme, head of WhatsApp’s India payments business, resigned after more than a year to join Amazon.com Inc AMZN Amazon India.
- Mahatme has joined Amazon India E-Commerce Division as Director of Products, Reuters reports.
- The exit coincided with WhatsApp’s plans to grow its payments service in a highly competitive market.
- Key players include alphabet inc WELL Google Google Pay, Alibaba Group Holding Limited BABA ant group-supports Paytmand Walmart Inc WMT PhonePe.
- During Mahatme’s tenure at WhatsApp Pay, it received regulatory approval to surpass its payment offering for 100 million users in India, the report added.
- He joined WhatsApp Pay in April 2021. Mahatme previously served on the board of Amazon Pay India between 2014 and 2021.
- WhatsApp introduced cashback rewards this year to attract more Indians to its peer-to-peer payment service.
- Formerly PhonePe common plans too Acquired two asset management firms for an aggregate enterprise value of $75 million.
- The value of digital payments in India will likely increase Triple from current $3 trillion to $10 trillion by 2026.
- Price promotion: META shares traded 0.17% lower at $141.88 on the last check Thursday.
- Photo via company
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