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We soon be able to make payments on our mobile phones using WhatApp, which will launch officially later this year starting from India Market.
The new payment solution which currently been tested since last year including other countries. The payment system will be a best alternative to PayPal.
WhatsApp Pay allows you to send money to family and friends over text. WhatsApp Pay would make sending money as easy as sending a message, and the company is looking to launch it in other international markets.
According to the company, “WhatsApp Payments will make it as easy to pay someone on WhatsApp as it is to send a message.”
“Payments services are critical to accelerating financial inclusion and bringing millions more people into India’s fast-growing digital economy.
“We can’t wait to provide this service to our users across India this year.”
The new payment system is made possible via a UPI which enables users to send and receive money easily. With the launch of WhatsApp Pay, users can now link their bank account to their WhatsApp account via Unified Payments Interface (UPI) and begin making payments straight to another user’s bank account through a WhatsApp chat.
How to Send Money With WhatsApp Pay
- Users can locate the payment option in WhatsApp by tapping on the attachment button placed next to the camera icon.
- After that, users will see the payment option along with other options such as gallery, video and others.
- Once clicked then a list of banks will appear on the screen and you then have to select the bank to which bank account is being linked.
- After selecting the account, you will just have to verify it to send the money.
WhatsApp Pay will compete against international money transfer companies, Banks, PayPal, Google Pay and Amazon Pay.