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WhatsApp Payments
WhatsApp Pay

Send Payments in India with WhatsApp

People across India will be able to send money through the messaging app.  Facebook owned app has been testing this feature for more than a year now. The feature is now live and people using the messaging app will be able to send money through this app, as reported by the WhatsApp blog.

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 payment feature in partnership with the National Payments Corporation of India (NPCI) using the Unified Payment Interface (UPI), an India-first, real-time payment system that enables transactions with over 160 supported banks.  To send money on WhatsApp in India, it’s necessary to have a bank account and debit card in India. WhatsApp sends instructions to banks, also known as payment service providers, that initiate the transfer of money via UPI between sender and receiver bank accounts.

However, the payment service will only be rolled out to 20 million WhatsApp users and the messaging app has over 400 million users in India, because NCPI has said that a 30 percent cap will be implemented on total payment volumes via every third party app from January 1, 2021.

WhatApp will be 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.

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WhatsApp payments: How to setup your account

Step 1: Open the WhatsApp app on your phone and tap on the three-dotted icon, which is placed on the top right corner of the screen.

Step 2: Settings > Payments > Add new Account.

Step 3: Tap Accept and Continue to accept Payment Terms and Privacy Policy.

Step 4: From the list of banks, tap the name of your bank. (If you don’t see you bank name it may not be supported)

Step 5: After selecting the name of the bank, your number (linked with the bank) will be verified. For this, you need to tap on Verify via SMS. Make sure the WhatsApp number is the same as the one linked to your bank account.

Step 6: Once the verification process is completed, you can then need to finish setting up payments. You will need to set a UPI pin for carrying out transactions similar to how it is on other apps. After this, you will be able to see the chosen bank on the payments page.

WhatsApp Pay: How to send or receive money

Step 1: Open the chat of the person on WhatsApp and go to attachment icon.

Step 2: Tap on Payment and add the amount you want to send to the individual. One can also add a note.

Step 3: To complete the WhatsApp payment process, you need to enter your UPI PIN. once the transaction is completed, you will get a confirmation message.

Now, if you have WhatsApp Payments option in the app, let’s take a look at how you can set up your account, and send or receive money. Make sure you update the app to the latest Android and iOS version.

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