WhatsApp Payment Update | New Feature | Whatsapp Payments
Amidst all the hype going around with WhatsApp revamping and taking steps towards re-stamping its authority in the Market of the online messaging platform; the company has lately introduced plenty of features including:
- Ability to Group video call.
- Deleting Messages for everyone.
- Differentiation between forwarded messages and organic messages.
- Option to mute people within groups Etc.
All these features have worked towards refining the app to suit the end user’s expectations and hence creating a value addition which has become a staple in the current competitive scenario.
A WhatsApp Payment App or Messaging app?
Owing to the dynamic and radical changes, WhatsApp is all set to introduce a payment app feature on its messaging platform which has a reach of 200 million subscribers. WhatsApp has been testing its payments app feature since the beginning of this year. This feature was rolled out to selected users (as many as 1 million people) for beta testing and the Facebook-owned messaging giant has received a positive feedback.
WhatsApp will host payment services as in-chat payment feature which will enable users to send money through their chat window.
WhatsApp Payment Gateway
Nowadays every single payment platform has included a new gateway called UPI – the unified payments interface. Similarly, WhatsApp is also using UPI as a Payment Gateway.
Even before the launch of the WhatsApp’s payment services, the market is already under scrutiny. Since India’s E-Payment sector has just begun flourishing, payments app have started diminishing the value of e-wallet services. Apps like PayTM etc. are facing heavy competition, because of the tidiness and ease of use offered by a Payments app based on BHIM UPI model.
How to get WhatsApp Payment
The UPI service offered by Facebook Inc. subsidiary WhatsApp will require you to fulfill the following criteria.
- You must have a WhatsApp account registered on the similar mobile number as the one which Is associated with your bank account.
- A Bank A/C Linked with the aforementioned mobile number.
- A smartphone with High-speed internet facility.
How to Download WhatsApp Payment App – Activate Feature
To activate WhatsApp payment feature on your smartphone, the following steps must be followed:
- Download the WhatsApp messaging app from Google Play Store
- Install and register with your mobile number.
- If you have already installed WhatsApp then update your app in order to avail the benefits.
- Upon accessing the payment button, you will be asked to enter your mobile number and select the bank associated with it.
- A message to the bank will be sent the app using your phone for verification.
- Make sure you have sufficient balance on your phone (at least Rs 1.50)
- So then you will see a notice to set up a 6 digit MPIN*.
- Then set your virtual payment address.
- So Now you are all set to make and receive payments.
*Note: If you have already subscribed on any other BHIM UPI app, MPIN linked with that app will be used.
WhatsApp Payments App merits
WhatsApp Payment app will work on similar lines as Google Tez works:
- Instant Cash Transfer directly to your bank account.
- Feature to check the balance.
- Each payment will require you to insert your MPIN.
- Money can be paid using the virtual address or mobile number.
- Online Payment services.
Scything The Payments App market
WhatsApp has a huge user database, clocking at more than 200 million subscribers, this has put an embargo on other apps which provide similar payment services and has threatened their survival. Maximum payment limit of Rs. 1 lakh, WhatsApp payments feature will target audiences ranging from home users to small-scale businessmen and retailers looking for a trustworthy and efficient way to make payments. As such people can posthumously assume it to be an overnight success.
So these were the details all about WhatsApp Payment App. Soon we will update the latest details related to this feature.