Published: Thu, August 10, 2017
Research | By Jo Caldwell

Whatsapp will soon allow its users to instantly transfer money via UPI

Whatsapp will soon allow its users to instantly transfer money via UPI

On the basis of the image shared by WABetaInfo, it can also be understood that the Facebook-owned chatting platform will now allow bank to bank transfer using UPI (Unified Payment Interface), which essentially functions on the Aadhaar infrastructure.

The feature "Whatsapp Payments: the immediate bank-to-bank transfer with UPI" will be available in the new version "2.17.295" through the Google Play Beta Programme. This feature in Whatsapp will hits soon. WhatsApp is working on a recall button which would allow users to unsend or delete the sent messages. The feature is still under development and there could be coming that prevents it from being brought to the public. The update comes with a hidden page in the app for the heavily-speculated payment feature, according to blog website WABetaInfo. Hindustan Times has reached out to WhatsApp for more details on this. Whatsapp android app currently has the preview page of this UPI payment service which is hidden now. Moreover, users can also recharge their phones and TataSky account.

Sending and receiving money digitally will no longer be limited to online banking or your bank's mobile app. However assuming it works the same as other mobile payment systems we've seen, it will probably be straightforward where users can attach a credit card or a bank account to their WhatsApp account, and money sent/received will be debited/credit from there. It is worth noting that WhatsApp has more than 200 million users in India.

With an integration of payment service, the application could give a tough competition to popular digital wallet Paytm. Other popular messaging apps like WeChat and Hike Messenger already supports this payment service.

Interestingly, Paytm is planning to introduce an instant messaging feature within its app. Sources suggest that the feature will be rolled out by end of this month. WhatsApp co-founder Brian Acton, during his trip to India early this year, had said that the company may enter digital payments and that it is in "early stages" of investigating the segment.

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