WhatsApp Pay India head Vinay Choletti has resigned from the company, he said, the latest in a series of executive departures for parent firm Meta in the company's largest user market.

This September, he was appointed to the top position for WhatsApp Pay in India after Manesh Mahatme took a job with WhatsApp from Amazon and returned after spending a year and half at the Meta job to the e-commerce group.

"As I move on to my next adventure, I would like to put on the record that I am deeply confident that WhatsApp has the capability to phenomenally transform digital payments and financial inclusion in India and look forward to seeing it leverage its potential in the coming years," Choletti wrote in a LinkedIn post.

WhatsApp has secured more than 500 million users in India, but so far, it has not been able to make inroads into the country's booming mobile payments market. So far, the three popular leaders have dominated the market on Google Pay, Walmart's PhonePe and Paytm, while WhatsApp, regulatory-hamstrung, is yet to provide a lot more than the payments service to 100 million users.

Hitting at the very heart of India's payments market, valued to reach $1 trillion in the next two to three years from about $200 billion in 2020, says Credit Suisse. And it is Google and PhonePe that boast over 85% market share on the homegrown payments network, UPI.

India had said earlier this month that it would extend the deadline to not enforce a check on the market share for players operating on the homegrown payments network until December 31, 2024 in a shocking extension of the deadline analysts said is a big win for the incumbent market leaders.

Meta has seen a spate of high-profile exits in India over the last few months as the company undergoes some internal changes. The managing director and vice-president of India at Meta, Ajit Mohan, had quit the firm at the end of October to join Snap as its president for the Asia-Pacific business. WhatsApp India head Abhijit Bose and the Public Policy head at Meta India, Rajiv Aggarwal, resigned last month.

The company promoted Sandhya Devanathan as its new head for the India business. In that role, Devanathan will report to Dan Neary, vice president for Meta Asia-Pacific. The top India executives were reporting directly to the U.S. leadership.

Meta did not respond to a request for comment.

That is not to say WhatsApp is not making aggressive moves into the country. Meta, which invested $5.7 billion in Jio Platforms, is working closely with the Indian conglomerate to leverage its reach.