WhatsApp the top chat app in the world has now received the National Payments Corporation of India’s (NPCI) approval to send and receive payments.
This is because the NPCI has stated that a 30% cap will be implemented on total payment volumes via every third party payments app from 1 January next year.
In a video statement, Facebook CEO Mark Zuckerberg said that ‘payments service’ is now available in 10 Indian regional language versions of WhatsApp.
WhatsApp also said that it has partnered with five Indian banks — ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank –for the service.
“We’re delighted to be working with five leading banks in India: ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank. People can send money on WhatsApp to anyone using a UPI supported app,” WhatsApp said in a blog post.
WhatsApp Payments: How to set up
- Open WhatsApp > go to Settings > tap Payments.
- Tap Add payment method. Next, choose your bank.
- After you’ve selected your bank, you’ll need to verify your phone number. Tap Verify via SMS.
- Wait for the verification process to finish. Once done, your bank details will be added below Payment methods.