-Sending and receiving money on WhatsApp now possible
-A mobile number linked to a bank account is need
WhatsApp, the Facebook-owned messaging app on Friday, 6th November released a statement that it will roll out its payment service in India after approval from the National Payment Corporation of India (NPCI).
The new feature means WhatsApp users in Indian can now transfer money from their app to another as easy as sending a WhatsApp message. India is the First Country to have this new feature.
Mark Zuckerberg the CEO of Facebook of which WhatsApp is a part of created a video to explain how the payment feature works.
Below:
How To Send Money On Whatsapp
How to use the payment feature on WhatsApp:
- Check if your phone has the latest version of WhatsApp (2.20.206.5)
- Go to the three-dot menu on the top-right corner and select Payment
- Verify your mobile number to link with your bank account
- After linking your account, head over to the chat window
- Pay another user from the message interface with a 4-digit PIN as the password
All you need is a bank account that is linked to your mobile money number. The payment system will use India’s National Payment Infrastructure, which is the Unified Payment Interface (UPI).
With UPI, WhatsApp has now become capable of letting you transfer money between different bank accounts (no mention of e-wallet money transfer, yet).
WhatsApp said 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.
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