Messaging app WhatsApp recently rolled out its UPI payment services for customers in India. Through this facility, people across India can send money to another account. WhatsApp has designed this payment feature in partnership with the National Payments Corporation of India (NPCI).
WhatsApp said that users will need to have a bank account and debit card in India to send money (make payments) via its platform. It added that it is working with five banks in India ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank and people can send money on WhatsApp to anyone using a UPI supported app.
In June this year, WhatsApp launched ’WhatsApp Pay’ in Brazil amaking it the first country where the service was rolled out widely.
Here are key things to know about the WhatsApp payment service:
1. Payments (service) on WhatsApp is available for people on the latest version of the iPhone and Android app. However, it is being rolled out in a phased manner, starting with a maximum registered user base of 20 million in UPI. So, some users may not be available to use WhatsApp immediately.
2. WhatsApp Pay is free and users won’t be charged a transaction fee. However, the limit for a transaction on WhatsApp’s payment service is Rs 1 lakh.
3. To use WhatsApp payment, one must have an Indian number and Indian bank account. People using international numbers will not be able to use WhatsApp’s payment service.
4. The payment service will be currently available in 10 Indian language versions of WhatsApp.
5. These payments, as said by WhatsApp, is designed with a strong set of security and privacy principles, including entering a personal UPI PIN for each payment. So, it is completely secured.
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