Make Payments Through WhatsApp : All That You Need To Know
Author : tech sunk | Published On : 14 Jan 2022
One of the most powerful social platforms and Facebook-owned messaging applications is WhatsApp. It has proved to be the most popular messaging, calls, and chatting application amongst other competitors such as Signal and Telegram.
WhatsApp already holds all the features that a user would ask for and is hence commonly used globally. Another useful feature has now been employed by the application for the users of India since 2020 that allows them to transact and make payments through WhatsApp. This feature is called WhatsApp pay.
Further information about WhatsApp pay, how to make payments through WhatsApp, its pros and cons would be discussed in this article.
Make payments through WhatsApp- What to know?
Starting from November 2020, about 20 million Indian users (both Android and iOS) could use digital transactions using WhatsApp pay that connects several renowned banks such as State Bank of India (SBI), HDFC, Axis Bank, and ICICI Bank with their users through UPI system, that is, the Unified Payment Interface system designed according to the National Payments Corporation of India’s (NPCI). However, it was launched early in 2018 on a trial basis and received the NPCI approval on February 7th, 2020.
Now it stands amongst its competitors Paytm, Google Pay, PhonePe, etc in the market of digital transactions. Growing developments and the need for quick alternatives for safe transactions have led to the boosting of such platforms, especially amongst youngsters.
The Head of WhatsApp (India), Mr Abhijit Bose shared his thoughts with users about being excited and privileged to partner with the banks and bring in the benefits of the digital economy to a large number of users who lacked this access before.