WhatsApp Pay India CEO Manesh Mahatme resigns

Manesh Mahatme, director and head of WhatsApp Pay in India, left the corporate previous this month after a just about 18-month stint at the Meta-owned messaging app.

Mahatme, who was once up to now a director and board member of Amazon Pay India, was once employed through WhatsApp in April 2021 to steer its bills vertical. As director of WhatsApp Pay, he excited by making improvements to the standard of bills for customers and scaling the provider.

He’s anticipated to enroll in his former employer Amazon India in a strategic place, stated an individual acquainted with the discussions however who didn’t want to be named.

A spokesperson for Meta showed to ET that Mahatme has left WhatsApp Pay.

“Manesh has been instrumental in increasing get right of entry to to WhatsApp bills in India and we want him each and every good fortune in his long run endeavours. our broader efforts to deliver the following 500 million Indians into the virtual bills ecosystem,” the spokesperson stated.

In November 2020, the Nationwide Bills Company of India (NPCI), which operates the Unified Bills Interface (UPI), licensed the phased release of WhatsApp at the platform with a most of 20 million consumers first of all.

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The NPCI doubled that restrict to 40 million through the top of 2021 after which to 100 million through April 2022.

Regardless of the rise, WhatsApp Pay’s proportion of overall UPI transactions stays appalling. In August, it accounted for lower than 1% of the full UPI marketplace, with handiest 6.72 million transactions, regardless of launching consecutive cashback campaigns in April and June, leading to a slight build up in transactions. The full collection of UPI transactions in August was once 6.5 billion.

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