WhatsApp is no more for messages alone

Chennai: WhatsApp recently announced that people across India will be able to send money through the messaging platform. This secure payments experience will make transferring money just as easy as sending a message for two crore Indians, it said.

“People can safely send money to their friends, family or acquaintances without having to exchange cash in person or going to a local bank.”

WhatsApp has designed its payments feature in partnership with the National Payments Corporation of India (NPCI) using the Unified Payment Interface (UPI), an India-first, real-time payment system that enables transactions with over 160 supported banks.

“With this launch, WhatsApp is excited about the opportunity to contribute to the country’s priority of financial inclusion,” it said.

To send money on WhatsApp in India, it’s necessary to have a bank account and debit card in India. WhatsApp sends instructions to banks, also known as payment service providers, that initiate the transfer of money via UPI between sender and receiver bank accounts.

 

NT Bureau