WhatsApp has reported revenues for the first time in India, a year after it launched the WhatsApp business app.
According to a report by Brand Equity, WhatsApp filed revenues of Rs 6.84 crore (over SGD $1.3m) and a profit of Rs 57 lakh (over SGD $100,000) with the Registrar of Companies for this year.
WhatsApp Business is a service that allows businesses to use WhatsApp to communicate with customers. According to the report, around a million businesses are using the app already.
The news comes ahead of the business launching a payment service in India. The launch of its payment service has been teased for the end of this year.
Speaking at the time, Abhijit Bose, head of WhatsApp India, told Brand Equity: “We hope to offer the service by the end of the year. Our goal is to enable end-to-end communication cycle between small businesses and customers. Payment is just one more step in how businesses interact with users.”
WhatsApp has over 400 million users in India, making India an important and large market for the messaging service. The company said launching payments will help boost digital inclusion in the country and support the growing digital economy of the country.