WhatsApp has recently launched a new feature in the application and that is a Payment service whereby money can be sent and received through it to and from everyone. This new addition was done in this year 2020. This feature is the latest venture of the Facebook-owned messaging service to provide a useful and hassle-free experience. National Payments Corporation of India (NPCI), after 2 years, has finally approved the use of the payment feature. Moreover, WhatsApp is using Unified Payment Interface (UPI) which is a real-time payment gateway and has collaborated with more than 160 banks across India.
Digital payment systems have been quite popular in India and especially after the pandemic Covid19, digital payment has become the norm for most people. Hence to expand WhatsApp messaging services from communication to easy payment systems. Moreover, the aim also is to make digital payment systems accessible and easy to use, not only for people living in cities and towns but people living in the rural areas. The feature has been made available to the latest iPhone and Android app. It is also safe secure and trustworthy systems when it comes to money transfer.
Steps to Use WhatsApp Payment
1.A user needs to download WhatsApp from iStore or Google Playstore. Then create a user account with the phone number and some other details. The user registration would be done in a few minutes and then the user can start using the WhatsApp application. The user account opening process is easy and instantaneous. The interface is also very user-friendly.
2.The user has to go to the Payments feature if it has already appeared on the interface. Then there will be an option of ‘Add new payment option’ wherein one has to select the bank name in which the user has an account.
3.After selection of the bank from which monetary transactions are going to take place, one has to click on “verify by SMS” and through this, the system verifies the authenticity of the user details by matching with the phone number. This process will allow you to authenticate and attach the bank account with the payment system.
4.Once the verification is completed, the user needs to set up the UPI PIN number.
5. Once the UPI PIN is set up and the bank details attached, payment can be made immediately by just one click.
6.To send money, click on the chat box of the individual, then click on payment and add the amount of money that needs to be sent. A personal note can be added while sending the payment also.
8.The payment procedure is completed after entering the UPI PIN for every transaction.
9.A confirmation text is sent to the user after the transaction is completed.
However, it is pertinent to mention that the user of the payment feature has to have a bank account and a debit card to use it. Whenever a payment is made, instructions are sent to the respective bank to facilitate the payment by using the UPI PIN. Moreover, the payment option is not being visible to all users at once. The feature is being rolled out in phases.