WhatsApp UPI Payment

WhatsApp UPI Payment coming soon, 5 things you need to know about this money transfer feature
What will change after WhatsApp brings its Payment feature? How to use this feature? Will you be charged for it? All these and similar more iamportant queries related to WhatsApp Payments feature is explained below. 

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WhatsApp is set to take one giant leap. In few days, the app will become much more than just being a messaging platform. The Facebook-acquired company is working on Payments feature and has even rolled out the feature to select Android or iOS beta users. The new WhatsApp Payments feature will put WhatsApp in a direct war with existing payment and e-wallet platforms like Paytm, MobiKwik, Google Tez and government-owned BHIM.
WaBetaInfo, a fan site for WhatsApp is constantly sharing the updates regarding this feature. According to a screenshot shared by WaBetaInfo, the Payments feature will show up under the Settings in WhatsApp. The app has been working on this feature for almost an year now and the shared images hint that the final roll out is imminent now.
So what will change after WhatsApp brings its Payment feature? How to use this feature? Will you be charged for it? All these and similar more important queries related to WhatsApp Payments feature is explained below.
1. WhatsApp Payments is a UPI-based feature that will allow you to transfer money from bank to bank. This feature will give a push to India's payment. WhatsApp has 1.5 billion monthly active users today so we can understand the amount of reach this new feature will get.
2. Before you use WhatsApp Payments feature it is important to understand what is UPI. UPI stands for Unified Payments Interface. It is like a unique identification of you which bank uses to transfer money via IMPS.
3. Since IMPS is faster than NEFT, you should expect faster money transfer via UPI. One of the biggest reasons for WhatsApp to have a large user base in India is due to its simple format. The chat app has a modest design which makes it user-friendly. The app has reached remote parts of India also. We can therefore expect more WhatsApp Payments user in India than other UPI service platforms in India. Reportedly, the chat app has signed with number of bank in India to help support its Payments feature.
4. Will WhatsApp Payments be free? Yes, the feature will be free and there will no extra cost taken to access this service.
5. Last where and how will you use this feature. According to images shared by some of the beta users who have received it, the Payments feature will show up inside Settings somewhere, probably between Notifications and Data and storage usage. Upon clicking on Payments, you will be directed to a new page that reads 'Send and receive money securely with UPI.' Tap on Accept and Continue. Verify your phone number by choosing 'Verfiy via SMS'. Once the number is authenticated, you can use the Payments feature to send and receive money via WhatsApp.

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