After Google Pay and other UPI payments apps, WhatsApp has also been added to the list. The Facebook-owned messaging app WhatsApp has finally received the approval from The National Payments Corporation of India (NPCI) to go live on its UPI service on Friday.
"Starting today, people across India will be able to send money through WhatsApp. This secure payments experience makes transferring money just as easy as sending a message. 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," WhatsApp said in a blogpost.
It further added, the payment feature which is available has been designed in partner with National Payments Corporations of India in such a way that enables 160 supported banks for the real time transactions but as of now NPCI has restricted the user base to 20 million over 400 million.
It has partnered with five leading banks of India including Axis Bank, ICICI Bank, HDFC Bank, State Bank of India and Jio Payments Banks. "To send money on WhatsApp in India, it is necessary to possess a checking account and open-end credit in India. WhatsApp sends instructions to banks, also referred to as payment service providers, that initiate the transfer of cash via UPI between sender and receiver bank accounts," WhatsApp said. People also can send money through WhatsApp to anyone who is using an app that supports UPI.
"We’re excited to hitch India’s campaign to extend the convenience and use of digital payments, which helps expand financial inclusion in India," WhatsApp added.
For both Android and iPhone, you can send money after you've added your bank account to WhatsApp.
How to send WhatsApp money via Android
- Open the chat with whom you'd like to send money.
- Now tap Attach, then select Payment.
- Tap Continue to verify your debit card information.
- Enter the last 6 digits of your debit card number.
- Provide expiration date, tap done.
- Now set Up UPI PIN.
- You will get an OTP (One Time Password) that may be pre-filled.
- If not, you will get an SMS containing the OTP on phone.
- Type the OTP under ENTER OTP.
- To send another OTP to your phone, tap Resend OTP.
- Create a UPI (Unified Payment Interface) PIN (Personal Identification Number).
- Now enter it under SETUP UPI PIN and tap Submit.
- Once UPI Setup is complete, tap done.
- Open the chat with whom you'd like to send money.
- Tap Attach and then Payment.
- Enter the amount you'd like to send.
- Enter a description for the payment and tap Send.
How to send WhatsApp money via iPhone
- Open the chat with whom you'd like to send money.
- Tap Attach > Payment.
- Tap Continue to verify your debit card information.
- Enter the last 6 digits of your debit card number and expiration date.
- Tap Next > Set Up UPI PIN.
- An SMS containing an OTP (One Time Password) will be sent to your phone.
- Type the OTP under ENTER OTP.
- To send another OTP to your phone, tap Resend OTP.
- Create a UPI (Unified Payment Interface) PIN (Personal Identification Number) and enter it under ENTER NEW UPI PIN and tap Submit.
- Re-enter the new UPI PIN under CONFIRM NEW UPI PIN and tap Submit.
- Once UPI Setup is complete, tap done.
- Open the chat with whom you'd like to send money.
- Tap Attach and Payment.
- Enter the amount you'd like to send.
- Enter a description for the payment and tap Send.
For the security and privacy on the application, WhatsApp has put forward UPI pin for its users for every payment. And to use this feature all they need to do is to update their WhatsApp for the play store. The service will be available in 10 languages version of WhatsApp.