WaBetaInfo has shared a screenshot of the feature that shows a window reading immediate bank to bank transfer with Unified Payments Interface (UPI).
If this report is believed to be true then WhatsApp will surely be a great beneficiary as it has a user base of close to 200 million and it would be interesting to see whether the company will be able to turn its user base into faithful customers or not.
WhatsApp is working on adding payments via UPI to its app, and it looks like this could be out soon. For WhatsApp, the discussion for UPI integration has already commenced where as for Facebook discussions are on preliminary stage. "We're exploring how we might work with companies that share this vision and continuing to listen closely to feedback from our users", a WhatsApp spokesperson had said.
The feature is still hidden as it is still under development. The feature is now available on latest version of WhatsApp beta, it makes the user to send money to friends and family. A recent beta update even adds support for Android O's PiP feature when placing video calls. As per WhatsApp blog, WhatsApp beta version 2.17.295 will have this UPI integrated payment feature. Hindustan Times has reached out to WhatsApp for more details on this.
While the other messaging services including WeChat and Hike were already having payment services.More news: USA calls for legally binding code of conduct in South China Sea
The UPI transaction system was launched in August 2016 with 21 banks and was now offered by around 50 banks. Moreover, users can also recharge their phones and TataSky account. Let us know what you think in the comments sections.
WhatsApp is an incredibly popular messaging application around the globe.
Digital payment platforms such as UPI gained prominence since the Modi government demonetised old high-value currency notes of Rs 500 and Rs 1,000 in November past year, causing a dearth of cash in circulation. More importantly, this feature will probably be one way that Facebook will monetize WhatsApp.
WhatsApp users can initiate direct bank to bank UPI transfers from the chat app itself.