How to use WhatsApp Pay?

Facebook-owned messaging app WhatsApp has launched its much-awaited UPI-based payments service for Indian users after getting approval from NCPI. For now, the National Payments Corporation of India (NPCI) has allowed Facebook-owned WhatsApp to expand the service to cover 20 million users from the current tally of 1 million. However, there will be a cap on transactions on WhatsApp Pay. It can only carry out transactions on the platform at 30 percent of its total UPI volume from January 1, as per the NCPI rules.

WhatsApp has over 400 active million users in India but only 1 million users were allowed to use the payments service so far. The company has received approval to increase the number to 20 million. The number could be increased gradually after the NPCI's regular assessment. The company has partnered with five leading banks in India for now, including ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank.

So, what can you do if you want to register for WhatsApp Pay on your mobile phone?

•     For a start, you must have a bank account and debit card in India.
•     Make sure you are using the latest version of WhatsApp. You can go to the Play Store or App Store to update the current version of WhatsApp.
•     Open WhatsApp and click on the three dots menu on the top right corner.
•     Click on Payments.
•     Click on 'Add payment method'
•     Select your bank. Right now, only five banks can offer payments service on WhatsApp. Click on 'done'.
•     You are all set to make payments, check the history and bank account details.

WhatsApp allows you to send money to the contacts you have saved in your mobile phone provided they also have registered with WhatsApp Pay. If you try to send money to those who don't have activated the service, you won't be able to do so. Instead, you'll get an option to inform the user to activate the service on his/her mobile phone.

To process the payments, WhatsApp sends instructions to banks, also known as payment service providers, that initiate the transfer of money via UPI between sender and receiver bank accounts.

Also read: WhatsApp rolls out UPI-based payments service in India; 'excited', says Mark Zuckerberg

How to pay via WhatsApp Pay

•     To make the payment, open chat of the respective user.
•     Click on the attachment icon
•     Click on the payments option.
•     Enter the amount and click on send.
•     Enter your UPI PIN and you'll get a notification when the payment will be processed.

Also read: NPCI allows WhatsApp to start UPI services with only 5% users Also Read: WhatsApp launches disappearing messages feature; all you need to know