All you need to know about the Whatsapp Payment

Earlier this month, the Facebook-owned company “WhatsApp” has started off with the payment feature which operates the Unified Payments Interface. The feature substantially authorizes the users to send money to other users via chats within the safe boundaries of the app. As of now, the service has been commenced in a graded manner, initiated with twenty million users in India, whereas there are over 400 million WhatsApp users within the country


Google Pay and PhonePe have been positioned as the pioneers within the scheme of UPI payments, followed by others like Paytm and Mobikwik. But, now, a colossal entrant in this ecosystem as Whatsapp could shake up the UPI ecology.

Facebook-owned WhatsApp has over 400 million users in India and therefore the app which was lately utilized for sending messages was given the go-ahead by NPCI to embark on payment services but in a graded manner.

WhatsApp is the extensively used messaging service in India. So, it’s a matter of time that payments over WhatsApp will also flourish immensely.

Facebook CEO Mark Zuckerberg stated during a video message that “sending money through WhatsApp to friends and family would be as smooth as sending a message with a simple click”.

He added, “There is no fee required because it’s WhatsApp and its secure and private too”

Payment services will be put in place for people to understand in 10 Indian regional language versions of WhatsApp.

To send money over WhatsApp, it is requisite to have a open-end credit with a bank that approves UPI.

To enable the payment mode, WhatsApp will transmit directives to banks, referred to as payment service providers. These payment service providers will take off the procedure of transferring money through UPI between the bank accounts of the sender and the recipient. The underpinning idea to make the process secure is to enter UPI pin every time while you send the money. 

This feature will be readily accessible to all the users of I phones and Android Smartphones

How do you set up WhatsApp payments?

Install the latest version of Whatsapp on your phone so that you can use the Whatsapp Pay option.

You must use the same contact that is registered with your bank account. As soon as you complete the above required steps, you need to open the Whatsapp and tap on settings at the top right corner and click on payments and then you will then see an inventory of banks, from which you’ll select your bank. Whatsapp will ask for verification through SMS so that the authenticity is maintained. Hit Allow to verify the process.

Once the method is complete, a user can then complete fixing payments.

Making payments

 If you’re one among the end-user who got the chance to avail the feature on your devices within the first run, go to the chat box of the person you would like to transfer the cash to. Then tap on the attach or clip icon that exhibits various options then go to the payments option and add the cash you would like to send to the person. You will need to enter the UPI personal identification number to finish the transaction.

WhatsApp has partnered with the most significant banks including ICICI Bank, HDFC Bank, depository financial institution of India, and Axis Bank for the services.

Further NPCI has put restrictions on the handling of UPI transactions by third party like Google pay or PhonePe. NPCI has set the cap of 30% of overall UPI transactions to relieve the incessant fears of monopolization in the market. 


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