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WhatsApp Payment is live for 20 million users in India: Here is how to transfer money- Technology News

WhatsApp Payment, a payment feature by Facebook-owned WhatsApp, is now available for up to 20 million users in India. The facility has been launched with support from banking partners including the State Bank of India (SBI), HDFC, ICICI, and Axis Bank. The WhatsApp Payment feature could serve as a competitor to other digital payment apps including Paytm, Google Pay, PhonePe. WhatsApp Payment has been designed on the National Payments Corporation of India’s (NPCI) Unified Payment Interface (UPI) system. It received the approval to go live on a peer to peer basis in November 2020.

 WhatsApp Payment is live for 20 million users in India: Here is how to transfer money

WhatsApp payment service is now available for 20 million users in India

Through the WhatsApp Payment feature, users can safely and easily transfer money, in a similar way to sending a message through WhatsApp.

Head of WhatsApp, India, Abhijit Bose said that the company is privileged to partner with SBI, ICICI Bank, HDFC Bank and Axis Bank to bring simple and secure digital payments to WhatsApp users across India.

“UPI is a transformative service and we jointly have the opportunity to bring the benefits of our digital economy and financial inclusion to a large number of users who have not had full access to them before,” Bose added.

How to transfer money via WhatsApp Payment

Step 1: Open WhatsApp on your smartphone

Step 2: Click on the contact you would like to send money to

Step 3: Press the attachment button in the chat

Step 4: Click on the Accept and Continue option

Step 5: Select the name of the bank from the list

Step 6: Tap on verify via SMS

Step 7: You will receive a verification code via SMS on your phone

Step 8: The account linked with your number will be displayed

Step 9: Select and enter the amount you would like to send across

Step 10: Enter the UPI pin to verify your payment and your payment will be processed

After this, You will be redirected to your WhatsApp chat where you can see the amount that you have sent across in the message box.

The digital payments sector in India is expected to increase “five-fold” by 2023 and touch the $1 trillion mark. WhatsApp has the largest market in India with more than 300 million users.

 

Firstpost

Firstpost is an Indian news and media website. The site is a part of the Network 18 media conglomerate owned by Reliance Industries, which also runs CNN-News18 and CNBC-TV18. The Network 18 group was originally owned by Raghav Bahl.

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