For a long while, there have been numerous leaks regarding WhatsApp releasing a peer-to-peer payment system. Following this, there was news doing the rounds that the messaging giant was partnering with major Indian banks to make it possible. As of recent screenshots that have surfaced, it seems the feature has finally made its way to the beta testing phase. This means that the UPI based payment feature is expected to roll-out very soon.
The feature was observed in the beta version of the application version V2.18.41 for Android users. For iOS users, the feature can be experienced in version number V2.18.21. The feature, however, is currently been activated through the server side, so it is possible that you may not see it even if you have one of these app versions installed.
Similar to other applications that leverage on the UPI based payments like PhonePe and Google Tez, WhatsApp will also require users to set up the payment service by linking their phone number. Following this, the payment will be processed easily with a single tap followed by authentication via the UPI PIN.
Whatsapp currently has over 200 million active users in India as of February 2018. This feature will be accessible to all users for free. The UPI-based payment feature will further facilitate cashless transactions which the Indian government is actively promoting.
Recently, the messaging giant also unveiled a version of the app that has been built specially for small to medium-sized businesses to interact with their prospective customers. Integration of payments can help both individuals, as well as businesses, transact with ease. Considering the size of the app’s user base, it will pose tough competition to existing UPI-based apps.
We will be testing the feature in greater detail once it rolls out, so stay tuned to know everything about it.