WhatsApp Pay has announced on Wednesday that it has now gone live with its more than 2 crore users in India along with State Bank of India, HDFC Bank, ICICI Bank and Axis Bank. After a two-year wait, the Facebook-owned WhatsApp payment service received approval from the National Payment Corporation of India (NPCI) in November to go live on UPI with 160 banks. Through WhatsApp Pay, people can send money as fast and easy as they send messages on WhatsApp.
Abhijit Bose, Head (India), WhatsApp, at the Facebook Fuel for India virtual event said, ‘UPI is a transformational service and we have the opportunity to jointly bring the benefits of our digital economy and financial inclusion to a large number of users, Who previously did not have full access to them. ‘
The messaging app says that people can send money safely to a family member through WhatsApp Pay, or pay for goods without having cash and away from a local bank.
Payments facility on WhatsApp works on UPI just like Google Pay, Phone Pay, Bhima and other bank apps. So you do not need to keep money in your WhatsApp wallet. You can pay directly from your bank account. When you register for payments, WhatsApp will create a fresh UPI ID. You can see this ID by going to the Payments section of the app.
You can send money using WhatsApp Payments to every person who has UPI, whether through other apps like Bhima, Google Pay or Phone Pay. Money can be sent even if the recipient of the funds is not registered on WhatsApp Payments. For this, WhatsApp provides the option of “enter UPI ID”. You can send money by entering Bhima, Google Pay, Phone Pay or other UPI ID to the beneficiary here.