WhatsApp Pay might be officially launching globally this year, but in the meantime, you can only make payments through the app provided you’re in India. We have been keenly following the developments of WhatsApp pay and its unfolding stories. However, we have a similar financial innovation app “Cash Chat App” here in our backyard developed by a team of Ugandan developers.
Today we digest and see if this app can be an alternative to WhatsApp Pay even before they launched operations in Africa. For all we know, it’s a matter of when and not if for WhatsApp Pay to spell gloom for fin-tech startups in Uganda.
First Off, how does the Cash Chat app works?
Cash Chat App is Uganda’s financial innovation app that helps users transfer money, chat with people, make voice and video calls and help users advertise products and services. Cash Chat App combines both the finance and social network features to improves user experience.
The app has recently been updated and upgraded with the latest high-value features and available for download on the Google Play Store for Android users. The latest features added on the app include posting of videos on status, posting advert videos, swiping to reply messages, seeing advert views, sending out group invites and links among other notable features.
The idea of local social media platforms isn’t new to many creative Ugandans internetpreneurs but the biggest hurdles to such ideas are usually the mass adoption of the platforms.
WhatsApp is the world’s biggest messaging platforms with billion daily active users and that’s why it’s easy for Facebook to leverage and introduce new features like WhatsApp Pay and know it will be widely adopted.
Cash Chat App, on the other hand, is still ahead of the curve in my opinion and even though the concept of introducing finance feature to social networks is solid, the adoption of such tech is still slow in our market.
Last year, Standard Chartered bank introduced the SC keyboard on smartphones which allows you to do online transactions from anywhere on your phone without having to open the SC app.
I don’t have the stats about the adoption rate and how widely it was used but personally, as an SC customer, I didn’t install the keyboard for myriads of reason. Even though the idea adds one bonus of convenience to the table, it raises another issue of security to the mix. Money is a sensitive issue and having it open to my face all the time is a risk I can’t afford to take.
Cash Chat App boasts a list of features which they can harness to increase their user based numbers. The Ads feature is a big one, Cash Chat app allows agents to advertise on behalf of companies; also, users will earn from the adverts. It’s like getting paid when your contact views your WhatsApp status.
Interested individuals and companies can register to become a Cash Chat advertising agent on their website (www.cashchatapp.com). You will then receive online training on how to do business on the mobile application as an advertising agent.
