New Delhi: The head of WhatsApp’s India payments business, Manesh Mahatme, has quit after more than a year to join the company owned by Meta Platforms with Amazon India, a source told Reuters on Thursday. Mahatme’s exit comes at a crucial time for WhatsApp, which is looking to grow its payments service in a highly competitive market and lock horns with more established payers such as Alphabet Inc’s Google Pay, Ant Group-backed Paytm and Walmart’s PhonePe.
During his tenure at WhatsApp Pay, the company received regulatory approval to more than double its payments offering to 100 million users in India, its largest market with over half a billion users in total. The source said that Mahatme has joined the e-commerce division of Amazon.com Inc in India as Director of Product.
He joined WhatsApp Pay in April 2021. According to his LinkedIn profile, Mahatma was previously on the board of Amazon Pay India between 2014 and 2021.
WhatsApp said in a statement that Mahatme has been instrumental in increasing access to WhatsApp Payments in India, adding the payments service “is a priority for Meta and we will continue to innovate and accelerate as part of our broader efforts.” ”
Amazon did not respond to a request for comment. WhatsApp this year introduced cashback rewards to lure more Indians to its peer-to-peer payments service, even though regulatory caps on the number of users using its service mean it faces stiff competition from rivals. have to do.