WhatsApp's Payment feature, which uses UPI, has been activated starting 6 November 2020.
After testing the feature for over 2 years in India, the feature has gone live on the latest version of the app on iOS and Android platforms with approval provided by the National Payments Corporation of India (NPCI) on Thursday.
With over 400 million users of the messaging app, India is a major market for WhatsApp. The Facebook-owned app has assured safety in making UPI payments which have been secured using a PIN feature like those available on other UPI-based payment apps.
"This secure payments experience makes transferring money just as easy as sending a message," WhatsApp said in a statement.
"People can safely send money to a family member or share the cost of goods from a distance without having to exchange cash in person or going to a local bank," it added.
To start using the feature, all you need is a WhatsApp account, a bank account and a debit card with the bank. Also, make sure you have updated the app to the most latest version.
How to activate WhatsApp's Payment feature on the app?
- Open WhatsApp and tap on the three-dots on the top right corner. Select the "Payments" option from the drop-down. Alternatively, the "Payments" may also be made with the "Settings" option from the drop-down.
- "Add payment option".
- Select the bank you hold an account and debit card with.
- Verify your phone number using the OTP sent via SMS. Make sure your WhatsApp number is the same as the mobile number linked to your bank account.
- Once verification is complete, tap on "Done".
- You should be able to see your UPI ID, your payment history and bank accounts linked to the UPI ID.
How to send money using WhatsApp?
Money can be sent via WhatsApp only to contacts that have activated the payments feature on the app. If you try to send money to those who haven't activated the payments feature, you will be given an option to notify the contact to activate the feature on their app in order to receive money directly into their bank accounts.
The WhatsApp Payments feature is based on the UPI mode of payment, which means that it is the same as any other UPI-based payment app like Google Pay or Phone Pe. You will have to set up a PIN when you activate the feature and enter it every time you want to initiate payment.
Further, the money sent using the app will be transferred directly from your bank account to the recipient's bank account instantly.
Steps to send money:
- Open the chat for the contact you wish to send money to.
- Tap on the attachment icon on the chat and find "Payments".
- Enter the amount you wish to send along with an optional note on the payment.
- Tap the "send" option and enter your UPI PIN to initiate the payment.
- The payment acknowledgement will appear as a text on the chat's interface. You can also check the payment history in the "Payments" option in the drop-down from the three-dots on the main page of the app.