WhatsApp, the popular messaging app, has introduced payment options in India. This means users in India can now send and receive money directly within the app, without having to use a separate payment app or website.
The WhatsApp payments feature is powered by Unified Payments Interface (UPI), a real-time payment system developed by the National Payments Corporation of India (NPCI). UPI is one of the most popular payment systems in India, with more than 1 billion transactions processed daily.
To use WhatsApp payments, users must first register their bank account with UPI. Once their account is registered, they can simply tap the “Pay” button within the WhatsApp chat to send or receive money.
WhatsApp payments are free for senders and receivers. There are no fees for sending or receiving money, even if the sender or receiver uses a different bank.
The introduction of WhatsApp payments in India is a major development for the digital payments industry in the country. WhatsApp has over 400 million users in India, making it the most popular messaging app in the country. The launch of WhatsApp payments could help further accelerate the adoption of digital payments in India.
Advantages of using WhatsApp payments
There are several benefits of using WhatsApp Pay, including:
- Convenience: WhatsApp payments are very convenient. Users can send or receive money directly within the app, without having to switch to a separate payment app or website.
- Speed: WhatsApp payments are very fast. Transactions are processed in real time, so users can receive money immediately.
- Security: WhatsApp payments are secure. All transactions are encrypted, and users are protected from fraud.
- Price: Using WhatsApp Pay is free. There are no fees for sending or receiving money, even if the sender or receiver uses a different bank.
How to use WhatsApp payments?
To use WhatsApp payments, you must first register your bank account with UPI. Once your account is registered, you can follow these steps to send or receive money:
- Open WhatsApp and go to the chat of the person you want to send or receive money from.
- Tap the “Pay” button.
- Enter the amount of money you want to send or receive.
- Select your bank account from the list of registered accounts.
- Enter your UPI PIN.
- Review the transaction details and tap “Send” or “Receive”.
- If you are receiving money, you will need to enter your UPI PIN to accept the payment.
The launch of WhatsApp payments in India is a major development for the digital payments industry in the country.
WhatsApp payments are convenient, fast, secure and free to use. The launch of WhatsApp payments could help further accelerate the adoption of digital payments in India.
Categories: Trends
Source: HIS Education