WhatsApp has started rolling out Cashback rewards on WhatsApp Payments. It will offer Rs. 11 cashback for sending any amount of money to any contact using WhatsApp Pay. Users will get the cashback up to three times.
“We are running a campaign offering cashback incentives in a phased manner to our users as a way to unlock the potential of payments on WhatsApp”, said a WhatsApp spokesperson.
WhatsApp began testing the cashback rewards back in November last year. But it waited until it got Regulatory approval to onboard more users.
The company introduced this cashback offer soon after it was allowed to expand its payment service to 100 million users in India. Even if the company started testing mobile payments in India back in 2017, it couldn’t aggressively expand it due to regulatory opposition.
Most UPI apps in India used cashback promotions to attract new users and this really works well. The success of Paytm, Google Pay, and PhonePe is an example of how cashback marketing works for payment apps. This is the reason WhatsApp is now trying the same.
