Now transfer money using WhatsApp !
Competition to PAYTM, Google Tez, phone Pe etc.
Image credits: iphonehacks
The long-awaited feature of payment transfer will let users send and receive money directly via WhatsApp. However, it does not look like the service will support merchant payments for now. The peer-to-peer UPI payments feature has been rolled for Android and iOS versions of the app.
WhatsApp was so far conducting beta-testing for the Payments feature on the Android version of the app. However, it looks like the feature is now being rolled out to both iOS and Android, though as already noted above it will not be visible for everyone immediately.
WhatsApp Payments supports more than 70 banks. You can choose the bank that you use from the presented list of options. All major banks such as HDFC Bank, Axis Bank, State Bank of India, ICICI Bank, Airtel Payments Bank, Yes Bank, Andhra Bank, Allahabad Bank, Bank of Baroda, and more are supported.
You cannot make merchant payments yet. Also, both the parties will need to install the latest version of the app with payments enabled. You should see the WhatsApp payment option in the WhatsApp settings. If you don’t, then you haven’t received the update yet.
According to the blog iPhoneHacks, those who have gained access to the new functionality will see a payments feature to appear in their WhatsApp Settings menu.
Users must then configure the feature by first verifying their phone number via SMS and choosing a bank. The option to send a payment is then available from the main WhatsApp interface, in the same area where you can also share a photo, video, file, contact or location into your chat session.
The potential for WhatsApp to dominate Indian P2P payments is strong, given that millions of people have come online in the region thanks to lower-cost data plans and cheap smartphones. The country even overtook the U.S. for combined iOS and Android downloads for the first time in Q4 2017, according to App Annie, as smartphone adoption is surging.
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