Zoho is entering the scene by challenging digital payment services including Google Pay, Phone Pay, and WhatsApp Pay. With the arrival of the payment service in the Aratai app, it will be possible to transfer money easily during chats. It will be a copy of WhatsApp Pay. It is expected to have UPI-based transactions. Zoho already provides various types of services including messaging, workspace, and messaging.
In February last year, Zoho’s fintech division received approval for payment services. Zoho’s business payment and point-of-sale systems are already operational. Zoho is also considering partnering with industry institutions to strengthen the payment scene. Apart from payments, Zoho plans to expand its operations to other financial services. The company has plans to launch ventures in areas such as lending, broking, insurance, and wealthtech.
The company currently offers services such as Zoho Books, Zoho Payroll, and Zoho Billing. Various local companies and large players including Google have already established themselves in the UPI payment space in the country. Zoho’s entry into this growing space is expected to benefit Zoho Payments, with the support of Zoho’s other services.
The Zoho Payments app (also known as Zoho Pay) is a digital payment management tool that allows businesses to accept, send, and track payments online. It’s part of the larger Zoho Finance Suite, and is seamlessly integrated with tools like Zoho Books, Zoho Invoices, and Zoho Subscriptions.
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