– Vinayak Barot
New Delhi: The WhatsApp Company on Friday announced that “The WhatsApp pay feature will be available in India from today”
In its official blog – WhatsApp has stated that “Company wants to make money transferring as easy as sending messages on the app. India currently has many payment apps including Paytm, PhonePe, Google Pay among others.”
On this service WhatsApp Company quoted in its blog that “Starting today, people across India will be able to send money through WhatsApp. This secure payment experience makes transferring money just as easy as sending a message. 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.”
To make the payment secure – WhatsApp has designed partnership with National Payments Corporation of India (NPCI) and payment will be done by the Unified Payment Interface (UPI).
WhatsApp tied up with India’s five leading banks – which is ICICI Bank, HDFC Bank, The State Bank of India, Axis bank and Jio Payments Bank. These Banks are partner in new service of WhatsApp
On the Transaction service – WhatsApp clarified that “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,”
WhatsApp said. People can also send money through WhatsApp to anyone who is using an app that supports UPI.
“In the long run, we believe the combination of WhatsApp and UPI’s unique architecture can help local organizations address some of the key challenges of our time, including increasing rural participation in the digital economy and delivering financial services to those who have never had access before,” WhatsApp in its blog.
WhatsApp also mentioned that “all users have to enter UPI Pin for every transaction and payments is designed with a strong set of security and privacy principles,”
To get the new feature in the application – Users have to update his WhatsApp application.
In the last couple of weeks – WhatsApp had announced many changes in application and WhatsApp had recently rolled out new disappearing message feature. This service is for the users across the globe.
In a disappearing message feature “when you turn on the disappearing messages on WhatsApp, new messages sent to a chat will disappear after seven days.”
WhatsApp said that “We’re starting with seven days because we think it offers peace of mind that conversations aren’t permanent while remaining practical so you don’t forget what you were chatting about. The shopping list or store address you received a few days ago will be there while you need it, and then disappear after seven days.”
