User to user payments on WhatsApp are finally starting to roll out in India, after what we can only surmise was a pretty lengthy development period of over 10 months, since the first public mention of the feature. It is rolling out gradually to beta testers in the country, meaning that a full release should be coming shortly.
In accordance with earlier info, WhatsApp user to user payments are done trough UPI or Unified Payments Interface - India's popular digital payment system, already adopted by all major banks and even some services in the country.
The implementation appears to be very simple and straight-forward. WhatsApp is getting a new "Payments" tab in its settings menu, where you have to enter and verify your bank info and agree to a few service and privacy policies. The menu also holds a detailed log of your payment history, including the two parties and the bank involved.
The payments themselves are handles seamlessly as in-chat attachments. Pretty neat and a great step forward in aiding India’s drive towards a cashless digital economy. Considering WhatsApp's formidable popularity across the country, the new payment system could indeed go a long way in popularizing UPI and the push towards convenient and secure digital transactions.
If you are keen on test-driving the feature, you need to be signed up to be a WhatsApp beta tester (use this link) and have an account at one of the supported Indian banks, which include Axis Bank, State Bank Of India, Yes Bank, ICICI Bank, and plenty more. Of course, you need a qualifying buddy to go through the same process and might have to wait a bit for the staged beta rollout to hit both your devices.
This is big. Eventually UPI should be able to replace wallets and debit card use in the country. We don't really need Visa / Master
Yes, only Bank Account Holders who have been verified eKYC norms using Aadhaar Biometrics can avail this UPI peer-to-peer fund transfer using just your mobile number. There are many solutions already in vogue like BHIM, RuPay etc..even SamsungPay has...
Something is wrong here. I'm enrolled in the beta programme in whatsapp. Still, the update I got had no mention of payments, in settings menu. Plus, there's no mention on the pay store description as well. @gsmarena staff : are you guys sure...