It’s the latest step to realising Facebook’s vision of monetising the social messaging platform.

 

Facebook has announced London will be the centre of WhatsApp’s new P2P payments feature.

Speaking at the company’s developer conference, Mark Zuckerberg outlined his vision of making it as easy for users to transfer funds as media content.

“I believe that it should be as easy to to send money to someone as it is to send a photo. So we’re already testing this in India with about a million people.”

Forbes

It’s a move that both confirms the city’s emerging status as Europe’s leading fintech centre, as well as the messaging service’s move towards greater monetisation.

WhatsApp, currently used by over 1.5bn users globally, is far more popular in the UK than it is in the US, possibly explaining London as the hub of its future payment services. It is also understood that London attracts many of the talented workforce from countries around the world where the app is popular.

Most of the workers will be based in London, with others in Dublin. London was picked, says the FT, because of its attraction – despite Brexit – for a multicultural workforce, particularly from countries, such as India, where WhatsApp is most popular.

FinExtra

Alongside building the payments feature, the new team will also work on developing new systems to improve user safety and limit spam.