After more than 2 years testing in India, WhatsApp launched the digital payment service in Brazil. (India and Brazil have the first and second most WhatsApp users). Facebook (the parent company of WhatsApp) is pushing more e-Commerce to its platform. Users can send money free while businesses are charged around 4% to receive the money.
High penetration in Southeast Asia
WhatsApp has a very high penetration in Southeast Asia, especially the Philippines, Vietnam, Thailand and Indonesia. The CEO of Facebook Mark Zuckerberg mentioned before that Indonesia could be the first to try the service. Besides digital marketing and logistics, digital payment also plays a crucial role in e-Commerce. Online payment could be done much easier for businesses with the later launch of WhatsApp Pay in global markets.
The FTA Programme of the BUD Fund
eCommerce is the big trend in 2020s, especially after the COVID19 pandemic. New developing markets grow faster than ever with technology advancement.
ASEAN member states have a Free Trade Agreement (FTA) with Hong Kong. Companies enjoy lower taxation, better protection and more transfer in the Southeast Asian countries. The FTA Programme under the BUD Fund sponsors 50% of the implementation cost in these new markets with cumulative upper limit HK$ 4 million.
Please contact BizMagnet to see how the BUD Fund help your e-Commerce business plan.