Whatsapp Payment Service Update: WhatsApp on Thursday added a rupee symbol ‘₹’ to its chat box to make the payment service on its platform more convenient for users. With this, users will now be able to use the camera in the app to scan any QR code to make payments at over 20 million stores in the country.
Speaking at the Global Fintech Festival (GFF) 2021, Manesh Mahatme, Director Payments, WhatsApp India, said that millions of customers use WhatsApp every day to send messages. We want to make sending money as easy for our customers as it is messaging.
Whatsapp upi payment started the trial of UPI-based payment service in India in 2018. This trial was limited to around 1 million users, as WhatsApp was awaiting regulatory approval.
Whatsapp Payment Service Update
In November last year, WhatsApp announced that it was launching its payments service in India after getting approval from the National Payments Corporation of India (NPCI). NPCI had approved WhatsApp to start payment service in the country in a graded manner. In which WhatsApp was first allowed a maximum of 20 million user base in UPI.
Whatsapp Payment Service Update: WhatsApp has over 400 million users in India, which is one of the largest markets for WhatsApp. Here in the payment service, it will compete with Paytm, GooglePay, Walmart-owned PhonePe, and Amazon Pay.
Unified Payments Interface (UPI) transactions through mobile are one of the most popular modes of payment. Especially in the last several months, due to the Corona epidemic, it has seen a lot of growth due to the promotion of payment through contactless methods of people. Last year, about 22 billion transactions were done through the UPI platform. This year it is estimated to be 40-45 billion.
WhatsApp Payment Update: Although there are many types of payment gateways including Google Play, UPI, Paytm for payment at this time, now social messaging app WhatsApp has also been included in this list. WhatsApp payment service is now rolled out for everyone. That is, now everyone can use WhatsApp, it was launched in India in November 2020.
Users will see a payment notification above the list of chats in the mobile app. On clicking on More (3 dots) in the upper right corner of the app, the user will also see the WhatsApp payment service after going to the list of options that opens. WhatsApp claims that its UPI-enabled payment is completely secure. WhatsApp has claimed that its UPI transaction data is encrypted and resides only in India as per RBI guidelines.
How to activate this feature?
How to receive money when account is not linked in WhatsApp
- Click on Accept Payment
- On the Payment Terms and Policy page, accept and
- Tap on Continue
- Tap on Verify via SMS
- WhatsApp will list all the bank accounts linked to the mobile number
- Select the account to be added and click on Done
What to do to send money through whatsapp payment
- Open the chat from which you want to transact
- Tap on Attach and select Payment
- Verify the last 6 digits of the debit card number and the expiry date
- After that select Setup UPI PIN and now enter OTP
- Create and enter your UPI PIN, then tap on PIN and submit