We have seen Paytm, Phonepe, Mobikwik and other digital wallets growing and developing continuously since it’s launch and now we can see all these big companies are investing more and more to make their wallets better, so the giant chat based company Whatsapp is also up for this with their own Whatsapp Payment feature.
Recently we heard from the sources that Whatsapp the big giant social media company is also set to launch its own Whatsapp payment feature.There will be no separate application or wallet but the payment feature will exist within the current Whatsapp application.This will be the companies big step towards its customers as there are billions of monthly active users who are using Whatsapp overall around the world.
According to reports, the company is testing out the Whatsapp Payment feature within the company with employees and will soon roll out to the public.”They are likely to do some sort of an extended beta program for the feature in November and by December you will get to see the final feature roll out to the public,” sources say.
This Payment feature will totally be Unified Payment Interface (UPI) based so that users can send and receive money by entering just a few digits.Whatsapp has partnered with ICICI, SBI and HDFC bank in India, which are few of the top banks in India.
In order to make payments, the user has to click on the attachment button and then there will be a button to make payments, after clicking on pay button a window will open to enter the amount and UPI pin once the user enters all of it the payments will be sent quickly.This is not only convenient but very easy to use.With this, Whatsapp may have to bring a password protection like we see on other digital wallets such as Paytm, Phone pe.
One thing which is unique than other digital wallets is that users don’t need to exit the current Whatsapp application in order to make payments neither they need to download other application, they can make payments directly through current Whatsapp applications
Looks like Whatsapp wants to move ahead of China’s WeChat application which also has similar kind of feature built-in their application.WeChat has crossed over 930 million users in China, soon after it rolled out payment feature. Also, Hike in India has started payment feature which had got great attention from users.
Read More About: WhatsApp UPI Payments Feature Spotted in The Beta Version
But now other payment wallets companies should be alert as Whatsapp may crush their market.This payment feature by Whatsapp is rumoured to first roll out in India looking at the great user base, then to rest of the world.Whatsapp Payment feature is been led by Neeraj Arora, it’s global business head.
Over the past few years, we have seen that Unified Payment Interface (UPI) has been growing at a fast pace. As per the National Payments Corporation of India, UPI services is used by 30 million people for their transactions in October 2017 and since we see Whatsapp using UPI feature we are pretty much sure it will grow more.This will surely make India Digital and move our country’s way towards development and modernisation.