Online Payments is a hot property riding on eruption of smartphone reach to masses of late. WhatsApp is testing a person to person payment feature among selected users in India. It is based on Indian Governments’s UPI initiative. WhatsApp Payment would allow users to send money to their contacts except merchant accounts.
National Payments Corporation of India’s (NPCI) brainchild child UPI is making loud noise in Payment sector. It is getting attention of lot of big players. Digital Payment battlefield is buzzing with Google Tez, Flipkart PhonePe, Mobikwik, Airtel Money, Freecharge and Paytm.
Paytm leads the dominance in the sector unequivocally but WhatsApp Payment arrival could give it run for their money. Something, Paytm did to other online service providers in last 2-3 years. It harvested almost 300 millions registered users on Paytm to takeaway traffic from the likes of redBus and BookMyShow. Paytm Travel, Events and other online payment services have disturbed several online establishments. Facebook backed messenger is using WhatsApp Payment as a similar trick. WhatsApp has bigger active user base (approx 200 million) in India and it can pose a tough competition to Paytm. WhatsApp user interface is simple and intuitive and loved by users. WhatsApp Payment integration is very subtle by its look so far which is easy to access from chat window.
WhatsApp Payment full feature app rollout will be anytime soon. The feature is accessible from a chat window by pressing the attachment pin icon. For first time use, you need to choose the Bank to connect UPI. You may need to setup an authentication PIN if you have never used UPI before. All major banks including Axis Bank, ICICI Bank, HDFC Bank, and State Bank of India are available. More banks may be added by the time feature is released to public.
WhatsApp Payment feature must be enabled for sender and receiver for successful transaction. As of now, there is no possibility to make other type of bill and utility payments.