Digital payment handling companies in India are going through major changes and international companies are giving tough competition to Paytm.
Facebook’s data leak case is creating news everywhere and Indian companies are taking it as a chance to attract Indian users towards using local digital wallets by complaining about the threat of data sharing.
Kiran Vasireddy, Chief Operating Officer at Paytm told in a recent interview that Indians don’t need western companies in digital space.
“These players are into payments not because they want to solve the payments problem in India. They are here because (for them payments) data is the missing point in the puzzle right now.”
he added.
Also Read:Paytm Founder Attacks WhatsApp Payments Option, Gets Trolled By Competitors
WhatsApp’s entry has been threatening Paytm and the officials have already shown their insecurity about it. Last month, Paytm CEO Vijay Shekhar Sharma wrote that Facebook is the most evil company in the world and it is creating a monopoly in the digital market after owning Instagram and WhatsApp.
Earlier, Flipkart and Ola also came together to form IndiaTech.org with the aim of restricting foreign companies such as Amazon and Uber from ruling Indian market by heavy fundings but Paytm’s complains are different as it is arguing on the working methods of foreign companies.
WhatsApp has clarified that no data is shared from the platform to its parent company Facebook in any way. WhatsApp always concerned about the security of users and people use it for business purposes also. Paytm’s behaviour is very surprising and seems that the company is feeling the heat of growth of other digital wallet companies as Paytm enjoyed the profits during demonetisation and now the days have changed. WhatsApp has just announced their payment option and it will be interesting to watch the reaction of Paytm after WhatsApp actually starts this service.
