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India’s popular software brand Zoho is now going to enter the world of digital payments. The company is soon preparing to launch its new UPI-based payment app ‘Zoho Pay’, which will compete with giants like Paytm, Google Pay and PhonePe. According to reports, this app is currently in the internal testing stage and it can be launched in the next few weeks.
This means that users will be able to send and receive money, recharge mobile, make bill payments and all this without opening a separate app, all within the Arattai app. Zoho’s vision is to create a ‘super app’ that will bring together chat, payments, and other business tools.
Will it connect to other UPI apps?
Zoho has hinted that efforts are being made to make Zoho Pay interoperable with other UPI apps. If this happens, then it can become a unique connection bridge between big platforms like Paytm, Google Pay and PhonePe.
However, this path will not be easy as these giant companies have already accumulated billions of transactions and user loyalty on their platforms.
Challenges for Zoho Pay
Zoho definitely has the ‘Made in India’ tag, but it will also have to compete with local companies like Paytm and PhonePe. The Arattai app initially received a good response, but was criticized for its lack of end-to-end encryption (E2E).
The company has said that E2E encryption will be implemented for chats by November. Zoho’s CEO says they want to ensure that the content on the app respects privacy while striking a balance with legal demands.
The launch of Zoho Pay will be a big and interesting step for the Indian UPI ecosystem. If the company integrates it well with Arattai and its other products, then it can prove to be India’s next big step towards becoming an ‘All-in-One Super App’.
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