WhatsApp is one of the most popular instant messaging apps. You must be using WhatsApp to stay connected with your friends, colleagues, and others. Recently WhatsApp has launches the Messages disappearing messages feature that disappear your sent messages after seven days.
Now WhatsApp has rolled out the Payments feature in India after two years. Today I am explaining to you about the WhatsApp payments feature. Read this post till the end to know more about this.
Here are the full details about the WhatsApp Payment.
WhatsApp has rolled out its payments feature finally in India. With the help of this new feature, you can now send and receive money across all countries. Now, this payment feature is available for both Android and iOS. WhatsApp payments use the UPI (Unified Payment Interface) platform like Paytm, Google Pay, and Walmart-owned Phone Pe.
You must have to bank account and debit card in India to send or transfer money with the WhatsApp Payments platform. WhatsApp sends instructions to the banks to initiate the transfer of funds between accounts through UPI. When you are settings up your WhatsApp payments account.
It will ask you to verify your phone number. Also, the System generated SMS will be sent to your phone to connect your UPI ID to the service. You will be able to send money to your WhatsApp contacts or other bank accounts through UPI ID once you have done you setting up. WhatsApp will have to figure out how to limit transactions on their platforms. Now one payment app will be allowed to process more than 30% of the country’s total UPI transactions.
Currently, WhatsApp is working with the ICICI Bank, HDFC Bank, Axis Bank, State Bank of India, and Jio Payments Banks to facilitate UPI payments. According to the National Payments Corporation of India (NPCI), it can only roll out payments in a graded manner starting with a maximum user base of 20 million. But WhatsApp has over 400 million users in India.