Conclusion: NPCI given its approval to Whatsapp to ‘Go Live’ on UPI payment system called ‘WhatsApp Pay’ in multi-bank model.
Tech786: From instant messaging app WhatsApp, you were able to make messages and calls till now, but now WhatsApp is going to start payment service called ‘WhatsApp Pay’ for you soon, with the help of which you can now send money to anyone from WhatsApp. It would be really interesting.
In fact, recently, WhatsApp payment service was approved by the National Payments Corporation of India (NPCI) to move to the multi-bank model unified payment interface i.e. UPI. With this, the limit of 30% of the total number of transactions in process under UPI will be applicable to all third-party app service providers TPAPs from January 1, 2021. Till now, this payment facility was available only on Paytm, GooglePay and PhonePe.
How to avail WhatsApp Payment service?
To avail the WhatsApp payment service, you have to go to the following points respectively.
● First of all open your WhatsApp and click on the three dots that appear above.
● Along with other options, payment option will also appear in it.
● Now click on the payment option.
● After clicking on it, there will be an option to add the mode of payment.
● Now the list of many banks will open, select the bank to which your UPI account is associated. Note, the mobile number must be registered with the bank.
● In a while, your account will be connected to WhatsApp.
● Once your account is connected to WhatsApp you will be able to transact with anyone.
How to send money through WhatsApp Pay?
To send money through WhatsApp, you have to follow the following points step by step.
● First go to the development of new payment.
● Then choose the name of the person to whom the money is to be sent.
● If the other person already has the option of payment on WhatsApp, then money can be sent directly.
● If the other person has not taken payment facility on WhatsApp, then money can also be sent directly through UPI account.
● UPI PIN will be required to be filled to complete the WhatsApp payment process.
● After sending the money, you get a confirmation message.
Has WhatsApp payment service already started in any other country?
Yes, WhatsApp payment service is going to start in India soon. But in June this year itself, this service has been started in Brazil. In this way Brazil has become the first country to start WhatsApp payment service.
Let me tell you that there are more than 400 million subscribers of WhatsApp in India. In such a situation, WhatsApp payment service will flourish here.