For years, the WhatsApp Business Platform has been available as an on-premise service and has been adopted by companies around the world. After several months of beta testing, Meta's CEO Mark Zuckerberg announced the general availability of WhatsApp Cloud API at the Conversations Event.
WhatsApp Business Platform is a way for medium to large businesses integrates WhatsApp into their automation workflow. With the announcement, Meta expects Cloud API to help smaller businesses have a usable WhatsApp integration with the latest features in a short amount of time while avoiding all expense and complexity of managing an on-premise service. The cloud-based service is hosted on Meta's infrastructure and can scale as you go.
As WhatsApp is a popular communication platform with more than a billion users, it is great for businesses to connect with the customers, and use cases can vary from direct support communication for customers to sending messages of personalized services, product order updates, and much more.
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You can also take a look at WhatsApp Cloud API documentation for more information.