Whatsapp to soon enable a new UPI payment feature

According to the official WhatsApp news, “the immediate bank to bank transfer with UPI” is going to launched in few weeks. Whats app users will have to accept terms and privacy policy of bank and whats app payments. This new feature in whatsapp will facilitate instant money transfer for users of the app.

Must read: Whatsapp is about to be going dead for Blackberry , Nokia and other old OS systems

Update does not include any new visible features and changes

But it seems a new future for whatsapp. In the compilation of instant messaging services whats app is so much ahead from others. Some messaging app like as We chat and hike already supports UPI-based money transfer features.“Transactions on UPI are growing exponentially due to increased acceptance among member-banks, merchants and consumers. Plus, the UPI-powered Bharat Interface for Money (BHIM) has also been a significant contributor,” NPCI Managing Director and CEO A.P. Hota had said.

WhatsApp is the second Facebook-owned platform to be attempting in-app payments.

Facebook Messenger already allows US users to transfer money to friends and family within the app since 2015. And when it comes to other messaging apps integrating payments, Skype recently tied up with PayPal to allow to P2P money transfer in select markets. In India, homegrown WhatsApp rival Hike rolled out in-app payments (Hike Wallet) in June.

Must read Hike Messenger 5.0 gets UPI-based wallet service, new themes, ‘Magic Selfie’ and more

WhatsApp, for which India is the largest market, has delayed on delivering its payments system. To facilitate UPI on WhatsApp, Indian banks would have to merge their systems with the messaging app. All major banks have a separate UPI app now. “Due to the complexity of the architecture, WhatsApp is in discussions with the State Bank of India, NPCI and few other banks to devise ways to integrate their systems with the bank and with NPCI,” a senior SBI official was quoted as saying.

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