India Today:- National Payments Corporation of India gives green light to WhatsApp payments. Initially, 20 million people will be able to send money through WhatsApp.
Details that users need to know.
National Payments Corporation of India (NPCI) has agreed to make payments through WhatsApp Of 400 million WhatsApp users in the country, more than 20 million are receiving messaging and video calling, making this popular messaging platform an easy way to send money anywhere in the country.
Payments will be made in the multi-bank UPI model.
It has been rumored for a long time that Facebook-owned WhatsApp is entering into UPI deals.
Since 2018, various permits have been pending. In August, NPCI informed the Reserve Bank of India that WhatsApp had completed the process for data localization at the local level.
The action follows. Payments will be available in ten Indian vernacular language versions of WhatsApp. All users need is a debit card from a bank that supports UPI.
Thirty percent of the two billion transactions made through UPI has been paid to private third-party app providers. Phone-Pay, GooglePay, Paytm, and AmazonPay are the leading UPI third parties.
With so many subscribers relying on apps like PhonePay and Google Pay for UPI transactions, there is a demand from the app authorities to increase the cap by 30 percent.
5 Things Users Need to Know
The service may reach WhatsApp users across the country in the near future. 5 Things Users Need to Know About Payment WhatsApp also runs on the Unified Payment Interface (UPI).
So you don’t have to keep any special money in WhatsApp ‘wallet’. A bank account with a debit card and phone number need to be linked to the account to enable payments on WhatsApp. Like Google Pay, WhatsApp will create a new UPI ID when registering for payments.
You can find this ID by going to the ‘Payment House’ section of the application. You can make payments by clicking on the ‘Attachments’ icon at the bottom of the screen that you normally use to send photos and videos. If the payee has not registered the WhatsApp payment, WhatsApp will give the option to ‘Enter UPI ID’. You can enter their Bheem, Google Pay, Phone Pay or other UPI ID to make the transaction.