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WhatsApp has hired a top Amazon executive to head its payments business in India, Manesh Mahatme, as the messenger service gears up to expand in the booming sector.
As an Amazon Pay director, Mahatme managed a team of senior product, engineering, and business development leaders.
According to a source, Mahatme is a hardcore payment professional and is the missing link for WhatsApp, which has over 500 million users.
India is among WhatsApp's biggest markets, where it is the newest entrant in the local digital payments sector, set to be worth $135 billion by 2023.
Last year, WhatsApp's received a much-delayed approval for the launch of its payments system in India but has been capped at 20 million users.
Facebook's deal to invest $5.7 billion in Jio Platforms digital unit, will allow WhatsApp to offer payments services to millions of mom-and-pop stores.
WhatsApp's India head Abhijit Bose said the company plans to deepen its partnership with banks to offer financial services such as pensions and insurance.
