Disruptive technology: Facebook launches Payments on WhatsApp

Greetings Listers!!
Ever-since WA was acquired by FB everyone was curious to understand what was Business Plan behind it. I think to be success in Digital Business working with the end goal in mind is very important.
When banks were busy digitizing their internal systems and maximizing on branchless banking introducing Mobile Banking little did they realize that indirectly they were all helping companies like Google, Amazon, Alibaba, Apple and Facebook by breaking the stereotypes on conventional banking giving consumers comfort of banking from their comfort and at their convenience. What the tech companies are doing today is riding that digital wave created by the banks to beat the banks in their turf. We will be seeing a lot of collaboration between tech companies and bankers across the globe a potential win for Banker, Consumer and Tech Co.
Though it is not simple to do away with conventional banks but it is a brutal fact that definitely we will not be needing a lot of Banks at a scale they are today; so a massive wave of consolidation in Banking Sector is expected at a global level in this decade.
I had this idea in 2017/18 building a platform that’s the begin all and end all of B2C not just limited to remittances, unsecured SME loans and utility payments but an e-commerce platform for MSMEs to be able to serve the need of their customers and helping customers find the best that suits their need. But it never developed beyond the brain cell it was created and never saw light of day; I realized only ideas don’t get you anywhere but no regrets whatsoever. 😃 Today couple of years down the line it just gives me pure joy that my ideas were already part of someone’s plan. It also motivates me to think more further and more strategic.
WA pay in Brazil, India and Jio Mart on WA in India are simple ideas that will revolutionize the consumer and consumption behavior. It will alleviate millions of people from the clutches of poverty. We need the same wave to hit us in Africa but with African ingenuity keeping the Ubuntu nature intact. 
The beauty of all this is how technology is transforming lives and more importantly the wider gamut of opportunities that this is creating.
I am just loving the Digital Space, there’s so much that’s coming up. Exciting times ahead!
Stay Safe!!
Sincere RegardsArun Nair 
I like to stay foolish, hungry and passionate  about People & Mathematics.

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On Tuesday, June 16, 2020, 12:45 PM, Ali Hussein via kictanet <kictanet@lists.kictanet.or.ke> wrote:



Digital Transformation

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Twitter: @AliHKassim

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On Tue, Jun 16, 2020 at 12:26 PM Adam Lane <adam.lane@huawei.com> wrote:


It seems that way, as reliant as whatsapp is on local banks in each country (which limits how many Kenyans have bank accounts and could use it). So if anything maybe whatsapp pay would be a partner for mpesa, and ride on mpesa’s registered user base and APIs etc?



From: kictanet [mailto:kictanet-bounces+adam.lane=huawei.com@lists.kictanet.or.ke]On Behalf Of Ali Hussein via kictanet
Sent: Tuesday, June 16, 2020 12:11 PM
To: Adam Lane <adam.lane@huawei.com>
Cc: Ali Hussein <ali@hussein.me.ke>
Subject: Re: [kictanet] Disruptive technology: Facebook launches Payments on WhatsApp




My thoughts.


Whatsapp Pay is just riding on existing Financial Services Infrastructure with its attendant costs, limitations, and regulatory snafus. The only great innovation here is that they have 2 billion users. See link below to an ongoing discussion on Linkedin.


WhatsApp launches WhatsApp Pay in Brazil




Ali Hussein

Digital Transformation


Tel: +254 713 601113

Twitter: @AliHKassim

Skype: abu-jomo




Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.



On Tue, Jun 16, 2020 at 11:44 AM Paul Magacha via kictanet <kictanet@lists.kictanet.or.ke> wrote:


True, this is an interesting development and definitely appropriate for the demographic that heavily depends on WhatsApp. 


For me WhatsApp doesn’t really lend itself well for the kind of e-commerce engagement I’m used to but I definitely see it’s been working well for early adopters populations.

 For example, Kenyans seem to respond well to WhatsApp groups vs Facebook groups. Whereas Facebook allowed threaded conversations which are easy to follow,WhatsApp does yet Kenyans and others are ok having 20 different active conversations going on in the group. It’s personally too exhausting for me. 


If the WhatsApp for business offers better conversations moderation then that’d work.  Anyway, I am not their demographic so I can’t relate to this product. 


But again for Kenya we still have a large Kabambe population so mpesa is more practical for that market. I’m sure safaricom is going to work hard to defend that market.



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On Jun 16, 2020, at 11:31 AM, Erick Mwangi via kictanet <kictanet@lists.kictanet.or.ke> wrote:



Unless govt uses tax mechanisms to make WhatsApp unfavourable in this market, if they were to appear on our shores then it would be Checkmate Safcom, but we all know that can\’t happen. 


The exhobitant cost of Mpesa continues to baffle me, Alibaba has free P2P transactions but we are still charged an arm and a leg.


Payments of the future are lifestyle based where the friction between entertainment and purchasing does not exist. We have to move beyond SMS based payments. That vertical simply is for yesteryear.




On Tue, 16 Jun 2020, 09:14 Paul Magacha via kictanet, <kictanet@lists.kictanet.or.ke> wrote:

Dear Listers,
Another disruption in the mobile payments market.
Who will be the biggest winners? Biggest losers? Partner or compete?
Today Facebook launches payments on WhatsApp in Brazil using Facebook Pay.
\”We\’re making sending and receiving money as easy as sharing photos.\”
They are also enabling small businesses to make sales right within WhatsApp.

It rolls out in Brazil today but Asia and Africa will soon follow as they are the biggest markets for Facebook.
Interesting times ahead..

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