Published: Sun, February 11, 2018
Science | By Hubert Green

Soon, exchange money through WhatsApp!

Soon, exchange money through WhatsApp!

Introducing a person-to-person payment feature for all of them gives the messaging application an advantage from the get-go over other digital transaction applications.

We've reached out to WhatsApp to see if it can shine a light on how exactly WhatsApp Payments works and if it is considering bringing it to other countries following its impending launch in India, and will update this piece when we hear back.

Despite competition from the likes of Paytm, Hike, Truecaller, and Google Tez, WhatsApp has the upper hand in India owing to its massive user base of over 200 million people. Users can now link their bank account to their WhatsApp account via Unified Payments Interface (UPI) and begin making payments straight to another user's bank account through a WhatsApp chat. Selecting the payments option takes the user to a disclaimer followed by list of banks.

The potential for WhatsApp to dominate Indian P2P payments is strong, given that millions of people have come online in the region thanks to lower-cost data plans and cheap smartphones. Finally, after a few months of delay, some users in the Asian country already have this feature available on their mobile phones, according to the WABetaInfo specialist portal.

It is worth to note that the feature is exclusively for India. This indicates the final stage of inclusion of WhatsApp payments system on the Android app will be soon launched. If you haven't made a UPI account earlier, that will have to be done on the UPI app or on the bank's website. At the moment it is not available for the final version of WhatsApp in India, but for those who have a beta version.

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