Huh, better late than never
It’s been a few months since WhatsApp launched its much-awaited feature, WhatsApp Pay in India. It was rolled out as a UPI payment services for iPhone and WhatsApp for Android users in India.
People can safely send money to a family member or share the cost of goods from a distance without having to exchange cash in person or going to a local bank.
WhatsApp designed this payments feature in partnership with the National Payments Corporation of India (NPCI) using the Unified Payment Interface (UPI), which is supported more than 160 banks in India.
How does it work ?
As you already know, it is necessary to have a bank account and debit card to transfer money via WhatsApp. WhatsApp will send the payment instructions to banks, also known as payment service providers, that initiate the transfer of money via UPI between sender and receiver bank accounts.
At present, the company is working with five leading banks in India: ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank. People can send money on WhatsApp to anyone using a UPI supported app.
How to use and get it ?
First of all, you will need to have the latest version of WhatsApp installed on your phone for the WhatsApp Pay option to be available. Download the latest version from the Play Store and Apple Store.
- Open WhatsApp and click on the three dots menu at the top right corner and click on Payments.
- Click on ‘Add payment’ next and select the bank that you have an account in
- WhatsApp will ask for verification of your phone number and phone number and show your bank account.
- Click on your bank account and then, click on ‘Done’.
Your UPI ID, your payment history and your linked bank accounts will be displayed.
- You will now be able to send money to those contacts that have registered for WhatsApp Payments.
- Just open the chat window with any contact, click on the file share icon and select the payment option
Note: The limit for a transaction on WhatsApp’s payment service is Rs 1,00,000
WhatsApp Pay is directly competing against Google Pay , PayTM and PhonePe in the Indian payment market.
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