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Like Google Pay and various other Indian payment services, WhatsApp’s payment service also works through the Unified Payment Interface (UPI), so there is no digital wallet for them. Transactions acting as an intermediary and all payments are made directly by a bank. on the other hand. All you have to do is register your UPI linked bank account in the app and you’re done. WhatsApp also allows you to send money to users with a UPI ID without using WhatsApp payments. In such cases, all you have to do is request the person’s UPI ID or their QR code.

To use WhatsApp payment services, you must set up your account in the application. Here is a quick guide for that.

How to make payments with WhatsApp

  • Step 1: Open the app and tap on the three dots in the upper right corner or go to Settings (if you are an iOS user).
  • Step 2: Select Payments> Add payment method> Select your bank from the given list
  • Step 3: the application will send an OTP to your number to verify the associated bank account
  • Step 4: Follow the instructions to set up your UPI PIN code.

Once you’ve set up your account, all you need to do is start a chat with the person you want to transact with, tap on the attachment icon, and then select the Payments option. Then all you have to do is enter the amount to transfer and your UPI code and that’s it!

Why was the WhatsApp payment service delayed?

In 2018, WhatsApp began testing its payment service in India. However, due to non-compliance with certain RBI rules in the country, the app service has yet to be officially launched in India. According to a previous report, NPCI directed WhatsApp to save its data locally in India and share a timeline to see when it could end. The messaging platform was unable to meet these standards and therefore the delay.

NPCI has now given WhatsApp a green signal for the introduction of its services, but under certain conditions. Out of the 400 million WhatsApp users in India, the payment service is currently only available to 20 million users. For others, it will be introduced gradually.

NPCI also announced that as of January 1, 2021, all third-party applications, including Google Pay, using UPI will only be able to process a maximum of 30% of the total volume of UPI transactions processed by third-party application providers, the Upper limit will be based on the transactions made in the application in the last three months.

According to NPCI, “limiting transaction volume will help reduce overall setup risk and is critical as UPI, which surpassed two billion transactions a month in October, continues to grow.”

WhatsApp has also not announced a maximum number of transactions or a maximum number of transactions that can be completed in a 24-hour period.

The Facebook blog says: “We developed our payment function on WhatsApp in collaboration with the National Payments Corporation of India (NPCI) using the Unified Payment Interface (UPI), a real-time payment system for India that supports more than 160 banks. We are excited to be a part of the India Digital Payment Ease of Use Campaign, which is helping to develop financial inclusion in India. “

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