WhatsApp Pay India Head Manesh Mahatme Said to Quit Firm: Details

The head of WhatsApp’s India cost enterprise, Manesh Mahatme, has give up after greater than a 12 months with the Meta Platforms-owned firm to hitch Amazon India, a supply informed Reuters on Thursday.

Mahatme’s exit comes at a important time for WhatsApp, which is in search of to ramp up its funds service in a extremely aggressive market and lock horns with extra established gamers resembling Alphabet’s Google Pay, Ant Group-backed Paytm and Walmart’s PhonePe.

During his stint at WhatsApp Pay, the corporate received regulatory approval to greater than double its funds providing to 100 million customers in India, its largest market with greater than half a billion customers total.

Mahatme has joined as director of product within the e-commerce division of Amazon.com in India, the supply mentioned.

He joined WhatsApp Pay in April 2021. Mahatme was beforehand on the board of Amazon Pay India between 2014 and 2021, in accordance with his LinkedIn profile.

WhatsApp in an announcement mentioned Mahatme performed an essential position in increasing entry to WhatsApp funds in India, including the funds service was “a priority for Meta and we will continue to innovate and drive momentum as part of our broader efforts.”

Amazon didn’t reply to a request for remark.

WhatsApp rolled out cashback rewards this 12 months to lure extra Indians to its peer-to-peer funds service, although the regulatory caps on variety of customers that may use its service meant it continues to face stiff competitors from rivals.

© Thomson Reuters 2022