Whatsapp Pay Goes Live For 2 Crore Indians: How To Send Money Using Whatsapp Pay? How To Get Whatsapp Pay?
Finally, Govt of India has give the green signal to Whatsapp to roll out their Whatsapp Pay feature, using UPI as the platform.
In the first phase, 2 crore Indian users will be able to use Whatsapp Pay via their app.
How will this work out?
Keep reading to find out more!
Whatsapp Pay Goes Live In India
NPCI or National Payments Corporation of India, which runs and controls UPI has given the green signal to Whatsapp for launching their Whatsapp Pay services in India.
Whatsapp Pay will work on UPI platform, and will use a multi-bank model. ICICI Bank has been confirmed as one of the banks which will support and enable Whatsapp Pay.
Whatsapp Pay will be available in 10 regional languages as of now.
Only 2 Crore Users Will Get Whatsapp Pay
In the 1st phase of roll out, NPCI has allowed only 2 crore Indian users to get Whatsapp Pay feature, and use it.
There are more than 40 crore users of Whatsapp in India, and everyone will be eventually be able to use Whatsapp Pay for making instant payments to their contacts, via UPI platform.
How To Send Money Using Whatsapp Pay?
To check if you have received Whatsapp Pay featire or not, click the menu on the home screen (top right, three vertical dots).
You will find Payment option.
If you have this option, then you will need to add your bank, verify and confirm.
Once the bank has been added, you can open any chat window, click on the Clip icon, and enter the amount, UPI pin, and transfer the money.
Here is a step by step process to use Whatsapp Pay and make the payments.
NPCI’s 30% Cap Rule On UPI Payments
Interestingly, the day NPCI allowed Whatsapp to roll out their payments, NPCI has also imposed a 30% cap rule on all UPI transaction done on the UPI apps.
This means that this 30% cap will be imposed on Whatsapp as well.
And if we look from another angle, this 30% rule will help Whatsapp Pay to gain foothold in the market, in a very short time.
We will keep you updated, as more details come in.