WhatsApp to allow bank to bank transfer using UPI?

WhatsApp Android beta versions add UPI payment options

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. We've seen the developers adding a lot of new features to the platform lately including GIF search and the ability to send any type of file between users.

As mentioned in the screenshot, in order to use WhatsApp Payments, you will have to accept the WhatsApp Payments and Bank Terms and Privacy Policy.

A new Beta update will enable the feature on the app.

The official "WhatsApp Payments" section for Android is still under development. The feature had been much anticipated by the 1 billion users of the app and is already available on its beta version 2.17.295 for Android. Above this reminder is a short description of peer-to-peer payments, wherein it says "immediate bank to bank transfer with UPI".

Launched by the National Payments Corporation of India (NPCI) and regulated by the Reserve Bank of India (RBI), UPI facilitates the instant fund transfer between two bank accounts on the mobile platform.

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"As far as Whatsapp is concerned, discussions have commenced..."

Earlier, The Ken had reported that WhatsApp was planning to launch mobile payments within the next six months. While Samsung has already introduced Samsung Pay solution, Facebook-owned WhatsApp is now inching closer to roll out peer-to-peer payment facility.

UPI is a feature which allows bank-to-bank direct transfer and works on Aadhaar infrastructure.

According to PTI report, Paytm has a bugger user base than WhatsApp so there are chances that it could outdo WhatsApp's popularity if the chat service goes live. For WhatsApp, which plans to introduce services as an option soon, a UPI-based payment in India could be a boon. It is worth noting that WhatsApp has more than 200 million users in India.

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