Facebook-owned WhatsApp is amongst the most popular messaging platform. Facebook bought WhatsApp years ago for about 19 Billion Dollars. WhatsApp has a high userbase all around the world. Especially in India in almost every Android or iPhone has WhatsApp installed. Coming with such a high userbase WhatsApp gets the green signal in India. If you want to enable WhatsApp pay you can do it now.
WhatsApp pay will be the digital payment platform like other dedicated payment apps. Popular payment apps in India like PhonePe, Google Pay Paytm, Amazon pay, Mobikwick, etc might get beaten by WhatsApp pay. It has over 400 million userbases in India. WhatsApp will get a huge userbase pretty much quickly.
Facebook was testing the WhatsApp pay from around a year in India. Now National Payment Corporation Of India given green signal for the WhatsApp Pay. WhatsApp can use their own as well as UPI system for the payment interface in WhatsApp.
The digital payments in India is slated to grow about $1 Trillion by 2023. WhatsApp may get added advantage of its trust by users and high count of users. Facebook already bought 9.99% of stakes in Jio platforms which is digital services firm owned by India’s richest man Mukesh Ambani. Facebook already tried some attempts of making business in India earlier which were denied. The US tech guy were giving the free internet access to India for a limited number of websites that created a lot backlash back in 2014.
But there’s a stopping by NPCI for the payment apps. All the third party users will have 30% cap on total payment volumes from 1st January 2021. The existing payment apps will get about 2 years to comply with these conditions. So WhatsApp has almost 400 million users in India, but now it can be rolled out only to 20 million users in India.
How To Enable WhatsApp Pay
- Open WhatsApp on your Android/iOS smartphone.
- Tap on the three dots on the top right corner.
- Tap on payments–>Add Payment Method–>Select your bank from the list of banks.
- Make sure the WhatsApp number is the same as for the bank account. It will be verified over the SMS just like other UPI apps.
- Now just enter or create your UPI Pin. That’s it now you can send and receive money through WhatsApp.
How To Send Or Receive Money
- It’s very easy to send as well as receive money. Go to the personal chat box that you want to send money to.
- Click on attachment icon–>click on payment.
- Now enter the amount you want to pay.
- After that enter your UPI Pin.
It is going to roll out to 20 million users only as per the NPCI capping. NPCI did a good move considering high user base of some apps. If you love the article, then please share it with other communities and forums. Don’t forget to join our telegram group for more wallpapers, Themes, Ringtones Update – Gizdev Telegram Channel.