Apart from that, Paytm Inbox also includes notifications, orders and games. These include 520 million smartphone users in India by 2020 and the fintech market growing to $2.4 billion by that time (it is now at half of this, $1.2 billion).
The Paytm Inbox feature is now rolling out to Android users with the latest update.
Paytm, India " s largest mobile wallet platform has now introduced an all-new in-app messaging feature called "Inbox'. Furthermore, it allows users to send photos and videos, share live location and click photos using the built-in camera app to send it directly to your contacts.
Indian electronic payment and e-commerce brand whose name is an acronym for "Payment Through Mobile" - Paytm launched another smart feature which is named as Paytm's Inbox which lets users chat as well as make transactions.
In an interesting turn of events Paytm recently - as recent as 2nd November 2017 - launched a couple of new features that could even give prominent players like Whatsapp a run for their money.More news: Arsenal's Santi Cazorla could have lost foot after serious infection
How to use Paytm Inbox?
Paytm, which has the backing of SoftBank and Alibaba among many others, mentioned in the statement that users cannot only carry out financial transactions with their loved ones but could also enjoy a seamless chat experience. "One step for us towards meeting this customer need is Paytm Inbox where you can chat with friends, merchants and send or receive money effortlessly and securely", said Deepak Abbot, senior vice-president at Paytm. Inbox is end-to-end encrypted to maintain your privacy and security.
With 225 million customers in India, the move will see Paytm offer up serious competition to Facebook-owned WhatsApp, which itself has 200 million monthly active users in the country.
Since the demonetisation of Rs. 1,000 currency notes in India, a lot of mobile payments and money transfer apps have received attention, especially Paytm. "There is also a feature allowing users to recall their messages using "Delete for All". It is located in the bottom right corner of the application. WhatsApp is slated to launch its UPI-based payment service in India by December of this year.
With Inbox, it looks like Paytm is trying to build something similar to WeChat in China.