Expansion of Verified Tag to Indian Businesses Planned by Meta

07 Dec, 2023

Expansion of Verified Tag to Indian Businesses Planned by Meta

In a bid to bolster the credibility of Micro, Small, and Medium Enterprises (MSMEs), Meta is set to extend its 'Meta Verified' tag to such businesses in India. Addressing the media in Ahmedabad, Vikas Purohit, the director and head of the small business group at Meta, highlighted the surge in counterfeit business advertisements and fraudulent activities on Meta-owned platforms like Instagram, Facebook, and WhatsApp.

Purohit emphasized the necessity of assuring consumers about the legitimacy of businesses, stating, "We are planning to expand our 'Meta Verified' badge to businesses in India." He revealed that the timeline for this initiative hasn't been finalized, but efforts toward it began in September 2023, with a forthcoming launch.

Regarding subscription options, Purohit mentioned that businesses can choose between a single-app subscription or a bundled subscription encompassing Instagram, Facebook, and WhatsApp. Subscribers will gain access to a toolkit tailored for their subscribed Facebook page, Instagram professional account, or WhatsApp contact number, with monthly subscription rates.

Highlighting the staggering usage statistics of Meta-owned applications, Purohit noted, "Almost half of the world's population, approximately 3.96 billion people, use Meta applications. Around 140 billion messages are exchanged daily on these platforms. Moreover, about 200 million businesses leverage WhatsApp, with approximately 600 million business messages sent worldwide per day, indicating that 60% of people communicate daily for business purposes."

Expressing Meta's commitment to supporting small businesses, Purohit affirmed, "Over the years, we've pioneered products and programs tailored to meet the unique needs of small businesses. Our focus remains on empowering these businesses in the digital sphere."

Earlier announcements by Meta revealed plans to introduce 'Meta Verified' for businesses in selected countries, offering monthly subscriptions starting at $21.99 per month per Facebook page or Instagram account, or $34.99 per month for both.

Moreover, Meta launched the Small Business Academy, aiming to upskill 10 million small businesses in partnership with the Confederation of All India Traders (CAIT). The company's Small Business Loans Initiative, initiated in 2021, facilitates collateral-free loans ranging from Rs 30,000 to Rs 1 crore for small business advertisers in over 19,000 pin codes across India.

This initiative aims to provide quick access to business loans and continues to expand its reach to support the growth and development of small businesses across the country.