Facebook-owned Whatsapp has announced former Amazon executive Manesh Mahatme as head of its payments business in India.

India is the largest market for WhatsApp based on user numbers. WhatsApp has more than 500 million users in India and was approved to launch its payment services in India last year.

WhatsApp said that Mahatme will help improve the payment experience for users and boost business growth.

Abhijit Bose, WhatsApp's head of India, also said last year that the company also plans to expand its partnership with banks to provide financial services such as pensions and insurance.