Nowadays, WhatsApp is used by every individual for doing day to day work. One of the most advanced and highly awaited features of WhatsApp is the WhatsApp payment. The users can use this feature by using Android and iOS smartphones. This feature is now available in India only in beta mode.
The WhatsApp transaction can be done by using the unified payment interface. In this method of payment, the user has to link their bank account with the WhatsApp and then you will get a unique PIN for generating the transactions. Whenever you want to make a payment, then you have to enter the PIN and the phone number or UPI of the receiver. This method helps in transferring the payment directly into the account of the receiver. This method eliminated the requirement of the mobile wallet.
If you want to use the WhatsApp payment method, then simply install the latest version of WhatsApp. The latest version of Android is v2.18.41 and on iPhone it is v2.18.22. When you will open the chat option in your WhatsApp then you have to select the option of setting. You will then see the option of payment under the setting option.
Set the payment feature in the WhatsApp: This can be done by using the following method:
- Click on the payment by selecting the option “settings”.
- Fill all the bank account information on the payment page.
- When you will accept the terms and condition, then you have to verify your phone number through call or message.
- You will see that your bank account will be linked to your UPI.
- You have to set your UPI if you are not using UPI. In this, you will also have to enter the debit card 6 digits with its expiry date.
The procedure of adding bank account details: You can add the account details by using following steps:
- Select the payment option under the setting option
- There you have to select the Add new account option in the bank account option
- Agree to the terms and conditions by accepting and continue
- Verify it by using SMS.
- Add the account of the person you want to add
- You will get the screen of “UPI setup complete”
You have to repeat all these steps for adding any other bank account.
How to send money via WhatsApp Payments:
After adding the bank account details of the person you can send money to another person. this can be done by using following steps:
- Select the chat window of the person whom you want to send the payment
- Just tap on the attach button in android phone and plus button on the iPhone button.
- Enter the bank account UPI pin of the person you want to send the money for authorizing the payment.
- When the money is sent to the receiver the amount is reflected as a message.
- All the transactions of the payment transfer are also maintained by the WhatsApp in the log.
Advantage: it eliminates the need for downloading the other payment transfer apps including Paytm, Tez, and others.
Disadvantage: the main drawback of this app is that it is not compatible with e-commerce platform for making payment.
Though there is the disadvantage there are also many other advantages of this app.