WhatsApp UPI Payment
Friends Welcome again to our Blog and today I am going to tell you about Whats App UPI Payment Feature which has been launched in India on 8 Feb 2018. It was working on the beta version of Whats App till now but soon it will be available for all Android, Windows, and IOS as well. We were all using WhatsApp as a chatting app but now we can use it as a payment gateway too.
What is UPI:-
UPI’s full form is Unified Payments Interface, which is a rapid payment technique UPI Developed by National Payments Corporation of Bharat (NPCI). UPI is different from mobile wallets because there is no need to transfer money from their account to app. It will directly transfer cash from the connected Bank account.
Benefits of WhatsApp Payment:-
The best thing is that we can pay money to someone while we are doing chat with him. It means there is no need to leave chat & WhatsApp to use other payment option or App. The setup process of payment option is very easy and in few steps, we can start doing payments.
WhatsApp has been made a tie-up with some banks such as ICICI, SBI, HDFC, Axis and Yes Bank etc. You Can also use this feature on WhatsApp Web. We can add multiple bank account in our WhatsApp Payment Feature but the same WhatsApp Number should be registered in our Bank Accounts which we want to add to it.
Effects on Other Payment Gateways:-
WhatsApp Payment option is so easy that it will affect to other payment gateways. All different bank have their own mobile banking app but on Whatsapp, they all have been merge. So primary mobile app will be affected by this Feature. Paytm Inbox, BHIM, Hike, Google’s Tez Payments App and Truecaller 8 also have launched money sharing feature. They all also going to face a big competition or maybe a loss in their field now.
I personally found this WhatsApp feature very useful.
I have sent some money using this feature to some of my relatives and it was successfully transferred. it is very safe and instant money transfer feature. you guys do let us know. What is your opinion about this new feature?