The Paytm Inbox probably draws its inspiration from the negotiate feature but the Inbox is intended (as of now) to be more of a C2C offering rather than B2C. 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).
Paytm said the feature will roll out to Android users on Thursday and to iOS users subsequently.
First of all, the foremost thing to note here is that both the message sender and receiver must be using the latest paytm app.
Consumers can use Paytm's messaging services to send photos, video, share moments and live location. You can even chat with your friendly neighbourhood shopkeeper and order stuff easily and send them money instantly on delivery.
The feature has been announced in a blog post by Paytm. This works same as WhatsApp's Delete for All feature, and Paytm also calls it as "Delete for All.' If you've sent a message by mistake to anyone, you have the freedom to recall the message in Paytm Inbox". It will also feature orders that a customer might have placed from the Paytm Mall, transaction updates and games. Paytm Inbox will be an advanced version of Paytm Lifafa.
In order to make the platform more appealing, Paytm has presented its users with cricket and other trivia - based games.
The company released a statement where they clarified all doubts by mentioning that end to end encryption will be provided and group chats would also be available for users. There is a need of social messaging, commerce and payments seamlessly blending into one another. "This will help us drive greater engagement on our platform and build a stronger bond with our customers", said Deepak Abbot, a senior vice president at Paytm. In the "Notifications" section, users can see cashback offers available under different categories.
If you find the Paytm Inbox interesting and useful, you can give it a try by downloading or upgrading to the latest Paytm app from Google Play Store.
Paytm is reportedly keen to emulate the popular IM service WeChat of China.
The development comes in the backdrop that WhatsApp is looking to start payments in India using the UPI. The wars are only going to intensify in the next few months.