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Top related persons:
Dado Ruvic - 1 WhatsApp - 1 Meta - 1 Mark Zuckerberg's - 1 Mukesh Ambani - 1 Aditya Kalra - 1 Katie Paul - 1 Munsif Vengattil - 1
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☆ WhatsApp adds rival in-app payment options in India commerce push
  + stars: | 2023-09-20 | by ( Aditya Kalra Katie Paul | Aditya Kalra | Katie Paul | ) www.reuters.com   time to read: +3 min
WhatsApp has more than 500 million users in India, though regulators there have capped its in-app WhatsApp Pay service to only 100 million people. People shopping on WhatsApp could also pay using popular services like Alphabet Inc's (GOOGL.O) Google Pay, Paytm (PAYT.NS) and Walmart's (WMT.N) PhonePe but only after being redirected outside WhatsApp. Payments via those rival services - and any others that run on India's instant money transfer system UPI - will now be possible directly within WhatsApp, Meta said in a blog post. While WhatsApp Pay users will remain capped in India, there is no such limit on the number of users permitted to transact with businesses on WhatsApp using the other methods, a Meta spokesperson said. With some 300 million people spending about $180 billion via India's using UPI each month, the new transaction options could serve as a powerful lure to attract businesses to pay Meta for access to WhatsApp users.
Persons: Dado Ruvic, WhatsApp, Meta, Mark Zuckerberg's, Mukesh Ambani, Aditya Kalra, Katie Paul, Munsif Vengattil, Lisa Shumaker Organizations: REUTERS, Meta, Google, UPI, Facebook, Thomson Locations: India, WhatsApp, Chennai, Bangaluru, New Delhi, New York
☆ China's smaller-than-expected rate cut sends stocks lower
  + stars: | 2023-06-20 | by ( Selena Li Joice Alves | Selena Li | Joice Alves | ) www.reuters.com   time to read: +3 min
China cut its benchmark loan prime rates (LPR) for the first time in 10 months on Tuesday, with a smaller-than-expected 10-basis point reduction in the five-year LPR. China's benchmark CSI (.CSI300) slipped 0.17%, with the real estate index (.CSI931775) falling 1.9%, its biggest daily decline in a month. "I don't think they (the LPR cuts) are going to move the needle at all," said Redmond Wong, Greater China market strategist at Saxo Markets. He said a 15 basis-point cut would have sent a "stronger message" that could boost sentiment in China's property sector. The People's Bank of China lowered the medium-term lending facility rate on Thursday last week.
Persons: Redmond Wong, Xi, Rodrigo Catril, Antony Blinken's, Saxo's Wong, Brent, Selena Li, Joice Alves, Anisha Sircar, Susan Fenton Organizations: CSI, Saxo Markets, People's Bank of, National Australia Bank Senior, Citi, U.S, Reserve Bank, Australia's, Bank of England, Thomson Locations: HONG KONG, China, Asia, Pacific, Japan, Greater China, Beijing, People's Bank of China, United States, Hong Kong, London
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