WhatsApp Payments is now available with ICICI Bank, SBI, HDFC for all users in India. Whatsapp has partnered with banks including State Bank of India, HDFC, ICICI and Axis Bank. to make the feature available for Indian users. WhatsApp was granted approval by NPCI to go live in November 2020. The payment method will let WhatsApp users transfer and receive money on the platform.
Talking about the partnership with banks, Abhijit Bose, Head of WhatsApp, India said, “We’re excited and privileged to partner with State Bank of India, ICICI Bank, HDFC Bank, and AXIS Bank to bring simple and secure digital payments to WhatsApp users across India. UPI is a transformative service and we jointly have the opportunity to bring the benefits of our digital economy and financial inclusion to a large number of users who have not had full access to them before.”
Bijith Bhaskar, head, digital channels and partnership at ICICI Bank has said that over the months more than two million users have adopted banking services on WhatsApp. “Keeping the convenience in mind, we introduced banking services on WhatsApp in April. The initiative helped our customers bank conveniently and remotely without visiting the branch during the pandemic. We have seen an encouraging response from our customers. Over two million users have adopted banking services on WhatsApp in this short span. Now with WhatsApp Payments, there is a unique opportunity to scale essential financial services to people all over the country with ease,” he said.
How to enable WhatsApp Payments feature on your phone
— If you have not received the WhatsApp Payments feature despite updating the app, you need to look for someone who has the Payments feature enabled on their phones.
— Ask the user with a payment feature to send you a “payment notification” in your chat. A payment notification can be sent by tapping on Payments in the chat sharing options
— When you receive a payment notification from the contact, WhatsApp will ask you to set up your payment account.
— Once you click on the “Set Up” option you will be able to create a payments account on WhatsApp.
“We’ve been working on this with the National Payments Corporation of India, who oversee everything to make sure it’s secure and reliable. And we’ve built it using India’s Unified Payments Interface, which makes it easy for anyone to instantly accept payments across different apps — and for companies to provide people with great services,” Facebook CEO and co-founder Mark Zuckerberg had said about the launch.
WhatsApp has rolled out the feature in Brazil and India but the feature would be available in Mexico, UK, Spain and Europe in the future.