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After its foray in the payments space, messaging app WhatsApp is now set to roll out insurance and pension products.
The services will be rolled out on pilot basis for micro insurance and micro pension products, in collaboration with financial institutions, Business Standard reported.
Moneycontrol could not independently verify the report.
The insurance and pension products are likely to be out by 2020-end, the report said.
Among the products in partnership with FIs include consumer health insurance products with SBI General Insurance, it added.
WhatsApp launched services on the United Payments Interface (UPI) for Android and iOS users on November 5 after gaining permission from the National Payments Corporation of India (NPCI).
The messaging app can expand its UPI base in a graded manner starting with a maximum number of registered users at 20 million, as per the NPCI.Mark Zuckerberg, CEO of Facebook, which owns WhatsApp said the service "is as easy as sending messages." said in a statement.
"There's no fee, and it's supported by more than 140 banks. Payment is available now in 10 Indian regional language versions of WhatsApp," he said.
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