WhatsApp Pay is the new feature launches in WhatsApp by the Facebook-owned WhatsApp. The feature is now available for over 20 million users in India. The feature is launched with the support of some of the banking partners of India including the state bank of India, axis bank, HDFC, ICICI, etc.
The WhatsApp Payment feature could be a competition for the other old payment apps that include Paytm, Google pay, phonepe, etc
The feature was launched under the guidance of the NPCI – National Payments Corporation of India and under the UPI system – Unified Payment Interface. It launched on Peer to Peer basis(P2P).
It received approval in November 2020 for the use on the customer’s mobile.
Through the new launch of the feature, it will become easy for the customers to transfer money easily just like they send the message the money will be transferred like that only.
The head of WhatsApp India Abhijit Bose said that the company has the right to do a partnership with some of the main banks of India that includes Axis Bank, Sbi, ICICI, and HDFC Bank.
The joint conclusion of all the 4 banks with the company brought the idea of WhatsApp Payment across India.
The Head of Department also said that
“UPI is a transformative service and we jointly have the opportunity to bring the benefits of our digital economy and financial inclusion to a large number of users who have not had full access to them before,”
Now here are the steps that will tell you the procedure of operating the WhatsApp Payment feature:-
1. Open WhatsApp On Your Mobile Phone
2. Click on the contact you would like to send money or pay the money
3. Press the attachment button given below after opening the chatbox
4. Then click on the payment option
5. Then click on the Accept and continue option
6. Then select the name of the bank from the list from which you would like to do the payment from
7. Then you will get a notification for verification and then click on the verification
8. After that you will get a verification code via SMS on your mobile phone
9. The account linked with your number be displayed
10. Select and enter the amount you would like to send to the person
11. Then enter the UPI pin that you have set earlier and send the money, after sending the money your chat box will get opened and a box showing the amount with payment has done will be shown.
The Digital payment sector in India is expected to cross over $trillion users by 2024 and moreover, WhatsApp has its own 300 million users in India.