WhatsApp Pay has already been released in India and we know how it works. This feature is based on the Unified Payments Interface platform. Now we can send and receive money without leaving WhatsApp.
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Being able to send money quickly, easily and for free is what is always intended with banks. Currently, there are a few applications and platforms that allow this in a few simple steps. The arrival of WhatsApp Pay can be a turning point in the market. Let’s remember that WhatsApp is installed on more than 2 billion smartphones worldwide.
WhatsApp Pay is not available to everyone, it has only been officially released in India. In that country, the messaging app has 400 million users, it is a good audience to test a feature. The rest of the world will get the update soon.
Once WhatsApp Pay is released worldwide, it will be possible to see the consequences. It might affect platforms like PayPal. At the moment, this function of WhatsApp is only for payments between acquaintances, not for mobile payments like Google Pay or Apple Pay, which require NFC to make a payment by connecting to a bank.
How does WhatsApp Pay work?
The steps that we are going to describe below are possibly universal, but remember that WhatsApp Pay is currently only active in India:
- The first thing to do is to update WhatsApp to the latest version. To do this, we go to Play Store or App Store and update.
- We go back to WhatsApp and click on the 3 vertical points that appear in the upper right corner of the app.
- We find the “Payments” option and click on it.
- Once we are in, we click on Add payment method.
- Now we will see a list of all banks compatible with the new WhatsApp function. We find our bank and select it.
- At that point, WhatsApp picks up our phone number and tries to connect to the chosen bank to detect our bank account automatically.
- It is quite likely that we will be asked to verify our phone number via SMS. We verify it and continue the process.
- Now we can start sending and receiving money without leaving WhatsApp.
- Every time we make an operation, the “receipt” will appear in the chat with that WhatsApp user.
WhatsApp Pay has already been released in India. Is WhatsApp Pay a reliable platform? Considering all the privacy and security leaks on Facebook, we can’t help but wonder if our bank details will be safe on the WhatsApp app. In addition, an ocean of possibilities opens up between the many phishing attacks and hoaxes that run every day in WhatsApp chats around the world.
