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The development comes just a week after Meta announced a nearly $900 million investment in Indian fintech startup CRED and appointed its founder, Kunal Shah, as the new global head of WhatsApp.
A simple way to look at it is: Meta may have finally found a way to monetize WhatsApp; Cred gets fresh capital; and Kunal Shah gets a global role. But is that really the whole story?
The market share of the Vijay Shekhar Sharma-led fintech further plummeted to 6.87% in the month of December.
Last year, The Head and Tale reported that NPCI was facing difficulty in implementing the 30% cap on UPI market share; and the market was going to miss the December 2024 deadline too.
