Before leading WhatsApp, Kunal Shah was betting on India's digital infra and UPI growth

Kunal Shah, co-founder of CRED, is stepping into a significant leadership position at Meta as he assumes the global head role for WhatsApp, the popular messaging platform. As he transitions from CRED, Shah's enthusiasm for India's digital public infrastructure is once again making headlines. During an interview on the sidelines of the G20 Summit in September 2023, Shah expressed his belief that India's Unified Payments Interface (UPI) represents one of the country’s most groundbreaking innovations. He anticipates that UPI's impact will extend well beyond mere transactions. Shah's insights reflect an entrepreneurial perspective on India's burgeoning fintech sector, which has emerged as one of the nation's most formidable strengths. In the 2023 discussion, Shah pointed out that many nations are just beginning to explore digital and instant payment systems, asserting that India has already forged a significant advantage. He compared India’s UPI with Singapore's Singpass, Brazil's Pix, and various payment networks within the European Union, stating, "I think we are far ahead on all of these things." Shah noted the growing fascination among investors regarding the rapid changes occurring in India. He highlighted the evolution of UPI-linked credit, calling it a "UPI 2.0 moment" for the country. He predicted that millions of Indians who previously struggled to access credit would soon obtain small credit lines through UPI, potentially benefiting numerous small businesses. "We're going to see a flywheel of both consumers and merchants benefiting from the credit loop," he remarked. Beyond the payment landscape, Shah is optimistic about the broader startup ecosystem in India. He commended the advancements made through UPI, Aadhaar, Account Aggregator, and ONDC, indicating that entrepreneurs now have a solid foundation for growth. "It's never been a more exciting time to build," he stated. "We are leapfrogging on almost all counts because of this digital public infrastructure we have." Fast forward to 2026, and Shah's forecasts hold increasing significance as UPI transactions continue to reach record numbers, UPI-linked credit products gain popularity, and countries worldwide look to India as a model for digital public infrastructure. In 2023, Shah described India as being on the brink of a transformative phase. "We are in a very unique moment where many of these developments will unfold in the next two to three years." As he embarks on his new journey with WhatsApp, Shah aims to enhance the platform's capabilities in payments, commerce, and artificial intelligence (AI), leveraging his background in consumer-centric ventures like CRED and FreeCharge to drive growth and revenue for WhatsApp.