Transfer Money Through Whatsapp

WhatsApp recently introduced the payment feature in India and this feature was rolled out on the Android Device as well as iOS Device for selected users. Do you know what this payment feature is all about? Well, here is a basic guide to WhatsApp Payment System.

What is WhatsApp Payment System?

This is basically a UPI based payment system which is recently introduced by WhatsApp and India is one of the first countries where the system is rolled out. The reason for choosing India is the fact that India has the highest user base of WhatsApp users. It works better than the Apple Payment System and in case of WhatsApp Payments, the money is transferred directly into the account of the user which basically eliminates the transaction cost as well as the need of a mobile wallet.

How to enable WhatsApp Payment System?

As mentioned earlier, the feature is available for the selected users and you can’t opt for the feature if you are not chosen by the WhatsApp for the same. You can check if you have this feature available to you by simply going to the settings and looking for the payments tab. If the tab is available then congrats, the feature is available for you. If it is not visible then you will have to wait for the feature to be rolled out for you.

How to Add Bank Account?

If you have the feature enabled for you then here is how you can add a bank account to send and receive money on WhatsApp.
• Navigate to the Settings of the WhatsApp and click on Payments button.
• Once the options are displayed, click on Bank Accounts and click on Add new Account. You will have to agree to the terms and conditions to move further.
• Now click on Verify via SMS and select the banking service provider for yourself. Once that is done, the setup of UPI Payment Feature on your WhatsApp will be complete.
How to Send Money to someone using WhatsApp Payment System?
Now you have already added a bank account but how do you send money to someone? Well, follow the steps mentioned below to send money to someone from WhatsApp Payments
• To initiate the payment, open the chat of the person to whom you want to send the money.
• Once the chat is open, click on the button you use to attach files or photos and this will display a list of options.
• From the list of options displayed, click on Payment Button and enter the amount that you would like to send to the person. You can also add comments to the transaction and once it’s done, click on send button.
• You will then have to authorize the payments using the UPI pin and once the Pin is authorized the payment will be complete.
This feature of WhatsApp can change the dynamics of Indian Payment Industry and the feature will soon be out for all the users.