Indian tech company Zoho is reportedly introducing Zoho Pay, a payments app that will allow users to send and receive money, make secure payments and perform seamless transactions.
Zoho Pay is currently undergoing internal testing and will be gradually rolled out across India over the coming months, said media reports.
Zoho is leveraging its presence in the B2B segment, where it has already obtained a Payment Aggregator license earlier this year. It already provides Zoho Payments for businesses, including proprietary Point-of-Sale (POS) devices for in-person transactions.
Zoho Pay, which is designed to be a complete peer-to-peer and merchant payments solution, will be accessible both as a standalone app and integrated directly into Arattai. The Zoho Pay app is designed to place the business in the fiercely competitive consumer finance market, competing with companies like Paytm and PhonePe.
After the success of its instant messaging app Arattai, the CEO of Zoho Corporation Sridhar Vembu is preparing for the homegrown payments app. As planned, Zoho Pay will be integrated within the Arattai chat platform. When integrated within Arattai, Zoho Pay will allow users to send and receive money, settle bills and transact securely without leaving their chat windows.
