How can you transact money through WhatsApp, understand the complete step by step
Now with chatting with family or friends, you will also be able to transact money with them. Social messaging app WhatsApp has started its payment service in India from today. This approval has been given by the National Payment Corporation of India. WhatsApp will support transactions of more than 160 banks and has partnered with the country’s five leading banks ICICI Bank, HDFC, Axis Bank, State Bank of India and Jio Payments Bank. According to WhatsApp’s claim, payment through this platform will be very easy. Let us know how to use it.
Create a WhatsApp Pay account like this
• Touch the three dots above right on the screen of WhatsApp.
• A payment option will come, go to it and then click on Add Payment Method.
• Select the bank where you have an account.
For verification, select the option of verification through SMS.
• After this, a code will come on the mobile number associated with the bank account, fill it and then your verification will be completed. Keep in mind that the WhatsApp number and the number linked to the bank account should be the same.
• Generate UPI PIN after verification is complete. For this, you have to fill a desired number and fill it again and confirm it. After making a payment account, do transactions like this
• Open the chat of the person to whom you want to send money.
• Touch the attachment mark in the message box.
• Then tap on Payment and fill the amount you want to send.
• After this, fill the UPI PIN on demand.
• Confirmation message will come after payment.
Only 2 crores users will be able to use
WhatsApp has just got approval to make this feature available to only 20 million users. WhatsApp currently has more than 40 crores. It can be understood that this feature will not be available for the remaining 38 crore users. Later, WhatsApp can expand its UPI userbase in a phased manner.
30% transaction from one app since January 1
NPCI has fixed the UPI transaction limit for third party apps from January 1 next year. From January 1, 2021, only a third party app will be able to transact a maximum of 30% of UPI transactions. We can understand this with an example. If there are a total of 100 UPI transactions, then out of this, on WhatsApp, Paytm, Google Pay or Phone Pay, you will be able to do 30 percent i.e. 30 transactions in a month.
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