This week, Facebook-owned WhatsApp announced plans to pilot credit, micro-insurance and micro-pension products among lower-income populations in rural India. Meanwhile, through a partnership with Acko General Insurance, Amazon Pay began offering insurance for motorbikes and cars in India.

Why should we care?
The expansion of WhatsApp and Amazon Pay’s additional offerings offers clues about possible plans in other markets. It also shows digital payments’ potential to underpin a range of other products. WhatsApp is talking to some of the largest Indian banks to make this happen, and with 400 million users in the country, it could add competitive pressure to rival payment apps like Paytm and PhonePe. Regulatory scrutiny will be a challenge for WhatsApp, pressures it’s already faced in India and other markets. Amazon, on the other hand, is promoting its insurance offering as a mobile-first solution. Amazon faces competition, from both individual providers and marketplaces, so its greatest hurdle will be to build a big enough customer base in a crowded field.