Chennai-based Zoho is preparing for the launch of its new digital payment app, Zoho Pay. This app could offer tough competition to giants like Google Pay, PhonePe, and Paytm. Zoho Pay will include features such as UPI, bill payments, and money transfers, and it can also be integrated into the company's chat app, Arattai.
Zoho Pay: Chennai-based software company Zoho is gearing up to launch its new digital payment app, Zoho Pay. This app will challenge major players like Google Pay, PhonePe, and Paytm in India's UPI payment sector. Zoho Pay will offer users features such as UPI transactions, bill payments, and money transfers, and it will also be integrated into the company's popular chat app, Arattai. The launch date is not yet fixed, but the app is in closed testing, and a public launch is expected soon.
Zoho's New Move in the World of Digital Payments
Chennai-based software company Zoho is now preparing to launch its new digital payment app, Zoho Pay. India's UPI payment sector is currently dominated by giants like Google Pay, PhonePe, and Paytm, but Zoho's entry could create a new buzz in the market.
The company already holds a payment aggregator license and offers payment solutions through its business platform, “Zoho Business”. Now, through Zoho Pay, the company is set to directly enter the consumer UPI market. This will not only give Zoho an opportunity to expand its user base but also add a new alternative to the payment ecosystem.
What is Zoho Pay?
Zoho Pay will be the company's new digital payment service, which will not only launch as a standalone mobile app but could also see UPI payment features added to its chat app, Arattai.
This means users will be able to make payments while chatting, much like the feature available in WhatsApp Pay. This will eliminate the need for users to switch apps; they will be able to send or receive money directly during a conversation.
In addition to UPI, the app is likely to include features such as bill payments, money transfers, and receiving options. Zoho could offer this feature by integrating it with its robust software ecosystem, making the user experience even more seamless.
When will Zoho Pay Launch?
The launch date for Zoho Pay has not yet been officially announced, but according to sources, the app is in its closed testing phase. The company may announce its public launch date soon.
India's digital payment market is one of the fastest-growing sectors globally. According to NPCI data, billions of transactions occur via UPI every month. Therefore, the entry of an Indian company like Zoho into this market is considered a significant step.
Integration in Arattai App
Zoho is working on integrating UPI payments with its local chatting app, Arattai. If this feature is added, Arattai users will not only be able to chat but also send and receive payments and pay bills directly from the same app.
This feature could further strengthen the messaging + payment model in India. After WhatsApp, a domestic app is now moving in this direction, which could prove important for both data security and local innovation.
Why Zoho Pay's Entry is Special
Zoho's specialty lies in its India-made tech solutions. All of the company's data is stored in India, and its focus remains on privacy, data security, and the needs of Indian users.
Zoho Pay's entry will increase market competition and provide users with a local alternative.
Furthermore, Zoho already has a b business client base, which could benefit its initial user growth.
The launch of Zoho Pay could present a new Indian challenge in India's digital payment sector. With the combination of UPI integration, chat-based payment facilities, and a business ecosystem, Zoho Pay is moving towards offering a unique user experience.
Now, it remains to be seen when Zoho Pay will launch and whether it can truly challenge established apps like Google Pay, PhonePe, and Paytm. However, it is certain that competition in the Indian digital payment market is about to become even more interesting.
