- WhatsApp cashback promotion will launch in May
- It will allow a WhatsApp user to earn up to Rs 33 cashback
- It will also similar incentives for merchant payments
WhatsApp cashback rewards will soon begin in India. The cashback offers will allow WhatsApp to compete with popular UPI payment solutions such as Google Pay and PhonePe, which have gained a lot of payments users in the country due to their ease of use and attractive cashback offers.
The Meta-owned messaging platform began offering its payment service with the hope of leveraging its huge userbase. However, National Payments Corporation of India (NCPI), the regulatory body which oversees UPI payment services, had previously restricted the rollout of WhatsApp to only 40 million users in India. Now, NCPI has allowed WhatsApp to provide its payment service to an additional 60 million users.
WhatsApp cashback offers to begin in May
According to Reuters, WhatsApp will launch cashback offers in India before the end of May. It will offer up to Rs 33 cashback if they send money to three different people via UPI on WhatsApp. The company is also testing similar incentives for merchant payments and for those who make mobile payments for Reliance Jio.
WhatsApp cashback offers: how it works
The WhatsApp cashback reward will only work if the user is using the latest version of WhatsApp and has been using the messaging platform for at least 30 days. In addition, users are required to register for payments on WhatsApp by adding their bank account details. At present, WhatsApp Business is not eligible for this promotion.
According to WhatsApp’s support page, if a user becomes eligible for the cashback reward promotion, he/she will see a banner or a gift icon on the app while sending money to an eligible receiver. A user will receive Rs 11 cashback on a successful transaction to a registered WhatsApp contact.
If the chosen contact is not on WhatsApp, it will provide an option to invite them to join WhatsApp to send/receive payments. There is no minimum payment amount required to receive cashback. A user can receive Rs 11 cashback up to 3 times by sending money to three different contacts.
“We are running a campaign offering cashback incentives in a phased manner to our users as a way to unlock the potential of payments on WhatsApp. Offering safe, secure and easy-to-use digital payments is an important part of scaling India’s digital economy, and we’ll continue to drive awareness of payments on WhatsApp as part of our broader efforts to bring the next 500 million Indians onto the digital payments ecosystem.”, the WhatsApp spokesperson added.