WhatsApp pay had started testing its UPI-based payments service in India, in 2018. It allows users to utilise the messaging platform to send and receive money. As it waited for regulatory approvals , the testing was limited to about a million users.
NPCI, which runs the Unified Payments Interface (UPI), had on Thursday allowed WhatsApp to start its payments service in the country in a “graded” manner, starting with a maximum registered user base of 20 million in UPI, which is used for real-time payments between peers or at merchants’ end while making purchases. After which WhatsApp started its payments services in India on Friday.
The payments feature has been designed in partnership with NPCI using UPI.
Here how you can start using WhatsApp Pay and how it will work:
1. Firstly, add a payment method by clicking on ‘payments’ from the three-dotted icon on the home screen to start using WhatsApp Pay.
2. Select the bank and verify through SMS to set up UPI ID.
3. Select the ‘attachment’ icon and select ‘payment’ from chats to make payments.
4. Enter UPI PIN to complete the transaction.
5. WhatsApp has partnered with five leading banks in India including ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank.
6. It is 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.
7. Send money through WhatsApp to anyone who is using an app that supports UPI.
8. WhatsApp will make users enter UPI PIN for every payment to enhance security and privacy on the app.
9. The company has said that “payments is designed with a strong set of security and privacy principles”.
9. WhatsApp Pay is available for all iOS and Android users.
10. Update your app to get the new feature.