Paytm may soon launch a messaging service to rival WhatsApp

Digital payments company, Paytm is gearing up to launch an in-app chat messenger to rival WhatsApp, according to a WSJ report.

Paytm, which has over 225 million users on its wallet app, reportedly plans to introduce the messaging feature within the next two weeks. Citing sources, the report adds that the new functionality will allow users to share text, video, and images on Paytm app.

Interestingly, Paytm's move is against the current trend of Messaging platforms like Hike introducing in-app electronic payments service. WhatsApp, which has over 200 million monthly active users as of February in India also plans to do the same later this year.

E-payments in India surged after the government demonetized high-value currency notes late last year. Firms such as Paytm have since rapidly increased their market share. Digital payments in India will jump close to 10 times by 2020 to $500 billion, according to a 2016 report by Boston Consulting Group.

Paytm hasn't responded to the reports as yet.