WhatsApp India Adds Payments Background Feature For UPI Payments: Details

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WhatsApp is very popular for chatting in India, people keep it in their smartphones, apart from the chatting feature it also supports there UPI transactions. Similar to UPI apps like Google Pay and Phonepe. If in the coming future WhatsApp UPI provides a good service as compared to Google pay and Phonepe, then people will move towards WhatsApp UPI. This will affect the business of Google pay and Phonepe and these UPI apps will lose their customers. UPI apps cannot take money from your account without your prior knowledge. If there has been a wrong transfer ( by mistake your number was given instead of another number), they can lien mark the amount and after your consent, only the money can be transferred back. WhatsApp makes UPI easier than other causes of WhatsApp is too handy for everyone.

Nowadays everyone using WhatsApp so it is easy to find who is using UPI in your contact lists. Too many businesses are also using WhatsApp Business App to Increase customers. Click on the three dots on the right corner and Select payments. From this screen, you will be able to set up WhatsApp payments. Select Add payment method and you can easily update WhatsApp payment with UPI. You can update payment with your Bank which supports UPI. WhatsApp pay comes with higher limits and complete features like Balance Enquiry, custom VPA creation, etc. WhatsApp payment is still in its initial phase and it is gaining momentum slowly, as a matter of fact, that WhatsApp is being available on almost everyone’s mobile phone in India, nowadays.

WhatsApp Payments Background

And for WhatsApp payment, you won’t have to install any separate app. While most of the application sucks, it will be a great move here to capture and leverage the opportunities here. WhatsApp Inc. has more than 600 million monthly active users in India out of global 2 billion users. Integrated with WhatsApp for Business also enable direct acceptance for small businesses. A new feature has been added in WhatsApp which will allow the user to proliferate payment background in the course of sending money via WhatsApp. The statement released by WhatsApp states that the new feature is primarily developed for Indian consumers and this feature is relevant as well as exciting. This feature will give an emotional touch while making a payment via WhatsApp.

The director of WhatsApp payment, Mr. Mahesh Mahatma has said that WhatsApp is the most secure and safe place where people get in touch with their near and dear ones. It is the place where people share their in-depth thoughts with their keens. The payment background will bring excitement among the users and the company has did a little effort by connecting people by introducing the payments background feature in WhatsApp. This feature will enable the user to share emotions while making a payment with the help of available emotive. Their emotive will render feelings of affection, celebrations, warmth, and fun. This new feature of WhatsApp is pretty much similar to the feature of Google Play. In Google pay, users have the option to choose a preferable background from the variety of different backgrounds available in the app.

WhatsApp India Payment Background

Users can get this feature in WhatsApp by clicking on the icon available on the payment page. The WhatsApp payment director also told that the sending and receiving are not only limited to make payments. There is a certain kind of emotion related to the exchanges which can’t be shared in words. Furthermore, he also told that WhatsApp will come with some more new features in the coming months and the company is destined to provide all the prior features in the app shortly. For the customer, he/she needn’t switch apps to do UPI transactions (like many times receiver’s details are received over WhatsApp), so using the attachment or other option where UPI will be accessible in WhatsApp, payment can be done easily inside WhatsApp thus saving time.

Even Google has followed this suite and instead of opening any wallet or payment bank, it simply created a separate app Google Tez which handles UPI payments only! Mostly all the UPI apps we used are safe because most of them are officially released by our Banks. But there may be some fraud. So, always check the app Developer, read the feedback of the users, and lastly never download an APK of UPI from any website(3rd party website). Money is sent to a bank account, not to an app. Your UPI Id is associated with your bank account. If you have Google pay and someone wants to send money to you by using google pay, you will have to tell him your phone number associated with your account. But if you use some other app, say BHIM, you need to tell your full id, e.g. 12355…@okaxis. Then only the other person can send money to you using UPI based app.

WhatsApp Payments In India

The new feature which has been added in the WhatsApp payment comes with a thematic range of beautiful expressions. That means to say, a person can make a payment and choose an appropriate background according to the transaction.  For example, if someone has to send money for a birthday to his friend and relative then he/she can have the option to choose a background theme of birthday on the payment page while sending the money. The payment system “ WhatsApp Pay” which had been rolled out by the “ WhatsApp” app is useable if you have a bank account, Cause it’s a UPI payment gateway, it’s not something like a Paytm wallet where you can save money. In India, the payment service was launched last year. In the initial period, it was on the pilot launch and the government has permitted them some months back only to expand to more customers, that also in a phased manner.

WhatsApp payment is based on UPI so validations will be similar to Phonepe, Google Pay, BHIM etc. First thing update your WhatsApp to the latest version.  regarding “WhatsApp Pay”, they are using it as a gateway of UPI payment, and while doing UPI transactions no application charges any fee. The company has said that the real idea of this feature is to provide users an emotional touch while making a transaction via their app. This feature will help the sender as well as the receiver to get emotionally connected. This will bring friends and family together on moral ground. NPCI has taken a new rule which will be operational from January 1, 2021, all third party applications like Paytm UPI, Phonepe, Mobikwik, or Google pay, all these have been told by NPCI that you cannot acquire more than 30% market cap.

WhatsApp Payments Background Feature

Also, the transaction is done through UPI, only 30% of its volume can be done by any single app, due to which google pay will have to reduce their UPI transaction. WhatsApp has launched its UPI payment gateway last year and it was only available for beat users in the initial development phase. As for now, it is accessible for all users. So almost all apps whether it is BHIM, Paytm, Phonepe, Google pay, Freecharge, MIpay, Amazon pay they all work well on the UPI platform. Registering process is the same for all the apps and it works like a breeze once it is set up. Rarely you will see the UPI servers are down. What differentiates these apps is their customer service especially when the payment gets failed, processing error, payment not credited so we feel few payment apps are giving proper follow-up services.

We would say Paytm and Phonepe has a very good customer support system. According to data procured by NPCI, WhatsApp has witnessed 0.47 million UPI transactions in July 2021. These transactions are valued at Rs 45.33 crore. While UPI market is still ruled by Flipkart-owned Phonepe and Google’s Google pay. These both have an approximate market share of 46% as well as 34.45% respectively. WhatsApp Payment is going to be a game-changer initiative in the Indian Payments Industry, People used to make P2P Fund Transfer on Phonepe, Google Pay, Paytm, etc, and share the screenshot via WhatsApp. Backed by the National Payments Corporation Of India (NPCI) and runs smoothly on UPI Network, it will surely create a huge disruption in the current E-Wallet ecosystem.

Send Payments Via WhatsApp

A lot of users have found WhatsApp payment much secure and found the app amazingly awesome, no ads or useless promotions, just enter your UPI PIN and done. There were some compliance issues, which had been resolved last year. Due to COVID19, it is being delayed as of now. The wait now seems to be over because one of the most used app is now embedded with a unique feature of payments background theme. UPI payments are trending right now and it is the future of all payment modes, no charges and instant payments without the need for complete bank account details of the recipient are some of its salient features. So all the existing apps need to do is integrate this UPI system in the app, then customer just needs to verify via OTP their mobile number which is WhatsApp responsibility, that to link bank account customer needs to make sure his bank account is already linked or not.

WhatsApp has no role in it, and then WhatsApp just needs to link its network with the pre-existing UPI network, so WhatsApp can accept and send payments by its ‘@’WhatsApp handle. Overall, WhatsApp is neither opening its wallet nor a payment bank and needn’t open any big support for these like wallets or payment banks nor any physical branches like payment banks. But the new features will surely be a game-changer for this world’s most used social messaging app. The future of WhatsApp payment is undoubtedly prosperous and these exciting features in the app are also boosting the users to switch to WhatsApp payment.

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