WhatsApp primarily makes money through the following key revenue streams:

1. WhatsApp Business API and Paid Messaging

WhatsApp charges medium and large businesses to use its Business API, which allows them to communicate with customers at scale. Businesses pay fees based on the number of messages they send to customers, with pricing varying by country and message type. This model ensures that businesses only pay for meaningful, relevant interactions rather than spamming users. The API also offers advanced features like automation, chatbots, and analytics, which businesses can pay for to enhance customer engagement and service

2. WhatsApp Pay

WhatsApp has integrated a peer-to-peer payment system in select countries (e.g., India and Brazil) called WhatsApp Pay. While sending money between individuals is typically free, WhatsApp charges businesses a nominal fee for payments received through the platform, similar to other digital payment processors. This provides WhatsApp with a direct revenue stream from financial transactions

3. Click-to-WhatsApp Ads

Though WhatsApp itself does not show ads within chats, it monetizes through "click-to-WhatsApp" ads on Facebook and Instagram. These ads allow users to start conversations with businesses directly on WhatsApp, helping businesses reach customers effectively. This ad format has become a significant revenue source for Meta, generating billions in revenue by leveraging WhatsApp’s user base indirectly

4. WhatsApp Business App Paid Features

For small businesses using the WhatsApp Business app, there are paid features such as automated replies and product catalog integrations that help streamline business communication. These features also contribute to WhatsApp’s revenue

Additional Notes

• WhatsApp messages remain end-to-end encrypted, so the company does not monetize user messages directly through ads or data sales.
• Metadata (non-content data) is collected to improve Meta’s overall advertising ecosystem but is not directly sold by WhatsApp

In summary, WhatsApp’s monetization relies mainly on business services (Business API and paid features), payment transaction fees, and indirect advertising revenue through Meta’s ecosystem rather than charging consumers or running traditional ads within the app