WhatsApp is one of the most popular social networking applications at present. With the ongoing COVID19 pandemic, the use of WhatsApp has increased drastically. To ensure better user experience, this Facebook-owned chatting application launched a lot of features.
These features include an increased number of individuals on group calls, JioMart through WhatsApp for small businesses, limiting the forwarded message to contain rumors related to COVID19, Facebook ads through WhatsApp, and more. Another interesting feature is the WhatsApp Payments.
The messaging platform collaborated with three private banks, Axis Bank, HDFC Bank, and ICICI Bank. Also, a public sector bank named State bank of India is also in collaboration with it. In this blog today, we are going to help you set up WhatsApp Payments on your phone to help you send and receive money smoothly.
What makes WhatsApp Payments different?
Due to the on-going COVID19 pandemic, the global lockdown has enabled almost everyone to indulge in digital transactions. There has been an increase in digital transaction applications like PayTm, PhonePe, and Google Pay.
With cashless and contactless payments becoming the norm, a lot of people might not want to install additional applications for payment transfers. Here is where WhatsApp Payments is different from the above-mentioned digital money transfer apps.
You can use Google Pay, Phone Pe, and PayTm for paying bills, recharges, shopping, booking movie tickets, and other multiple purposes. WhatsApp Payment is solely used for peer to peer payments.
Unlike PayTm, Phone Pe or Amazon Pay, it doesn’t use a wallet for people to store money. WhatsApp Payments allow payments between close contacts that are using the service. The payment service is based on the National Payments Corporation of India’s Unified Payments Interface.
How to install and set up WhatsApp Payments?
- The first step is to open the WhatsApp account. Tap on the three dots present on the top right corner.
- Now, tap on “Payments” and then “add payment method”.
- It will show you a list of supported devices. Choose a bank with an existing account on your name. Make sure the account is linked with your mobile number.
- Now, a popup message will show that you have to send a verification message from your phone. You need to tap on “verify via SMS”.
- Once the verification is done, it will show all the accounts in the bank linked with your phone number. Select the one that you want to set up for the app to use.
- Click on “done” and the process of setting up your account will be complete.
How to send money using WhatsApp Payments?
Process 1:
- Go to the individual chat of the person whom you want to send money.
- Click on the attachments option and then click on “payments”.
- If the contact has already set up WhatsApp Payments, you will be able to see a screen to send and request for money.
- Enter the amount, add a text if you want to and click on “next”.
- You will be redirected to a screen where you need to enter a UPI pin. If you don’t have a UPI pin, it will guide you to create one.
- Enter the UPI pin and that’s it, you are done.
- If you are asking for money, tap on the “request” and wait for the contact to accept the request.
Process 2:
- Click on the three dots on the right-hand corner and then open the payment option.
- Now, click on the QR code that shows next to your name to show the QR code with which your contacts can send money.
- Click on the new payment option preset on the bottom right side of the display.
- Choose a contact or you can “send to a UPI ID” or scan a QR code option.
- The rest of the method is the same as Process 1.
That is all there is on how to send and receive money using WhatsApp Payments. The messaging platform will add more features once it rolls out WhatsApp Pay. Till then you can use WhatsApp Payments to send and receive money from your contacts.
WhatsApp Payments have started rolling out to a number of users in India in the beta version a few months ago. It has been under observation ever since. The feature is yet to come up to the majority of users on WhatsApp. Gradually the number of people using WhatsApp Payments is increasing.
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