All of us would have used WhatsApp to chat with friends and family, stay in touch with your network, share pictures and experiences and more. For many of us, WhatsApp is a very important part of our daily routine. Now WhatsApp is all set to play an even bigger role in our lives in INDIA by becoming a bank too for making digital payments to our contacts. Team RetyrSmart hopes our readers would use this new facility well and would urge them to be sure to be safe while transacting though this new platform. Don’t give out details unnecessarily and start by trying out with small amounts.
WhatsApp is no more just your Chat platform, it’s your Bank too!
WhatsApp is testing a new feature that lets you send digital payments to your family and friends like you would send a photo or file or any other attachment.
If tests go well WhatsApp could roll out the feature to users across the globe. The new feature works off a widely-used digital payments system developed by a UPI (consortium of Indian Banks).
A similar tool was introduced to Facebook’s Messenger app in 2015.
India has the world’s largest number of WhatsApp users, with 200 million people using the app daily. If you’ve linked your bank account to your mobile phone number, you’ll now be able to use the messaging application to transfer and receive money.
To use Payments, you should use a phone number with the country code for India and have a bank account with a bank that supports UPI. The phone number you use for the services must be the same phone number linked to your bank account used for Payments.
If you satisfy the necessary pre-conditions and wish to avail the service, search for a ‘Payments’ tab in the ‘Settings’ drop-down within the application.
And if you can’t find the ‘Payments’ option, don’t fret. There’s an easy fix. Just find someone who’s activated the payments feature and get them to try and send you funds.
Once you’ve selected the ‘Payments’ option, you’ll run through a series of steps:
– You will then be asked to verify your phone number with an SMS. After a few seconds, a list of bank accounts linked to your mobile number will show up
– Simply select any one to continue
– Then verify the debit card that’s linked to your bank account
– And finally, you’ll have to enter a one-time password that’ll be sent to your mobile number, and choose a UPI PIN, which you will use each time you transact.