Skip to main content

WhatsApp Payments To Roll Out in India Next Week: Here’s What We Know So Far

WhatsApp's payment service will roll out in India by next week to all users, and it will partner with three banks in the beginning. 


WhatsApp’s payment service will roll out in India by next week to all users, according to a report in Bloomberg. The report quotes people familiar with the matter and that WhatsApp will make Payments live with three partners, instead of the original plan of going live with four. WhatsApp Payments in India is based on the Unified Payments Interface, which allows for direct bank-to-bank transfers. WhatsApp is currently testing Payments in beta with some users on iOS and Android, though it has been steadily adding new features to the service.



In India, WhatsApp will partner with HDFC Bank Ltd, ICICI Bank Ltd and Axis Bank Ltd to process the transfers, adds the report in Bloomberg. In the beta version of WhatsApp Payments, only ICICI Bank is listed as an official partner for now. The report also notes that State Bank of India will join as a partner later on.
With UPI, while the app can be built by a developer, the actual processing of the money transfer needs to be done by a bank. This explains why WhatsApp will have to tie-up with these partners. For example, the Google Tez app, which is also a Payments app for India, has HDFC, ICICI, Axis and SBI bank as partners to process the payments. However, a user will be able to add any of the UPI-supported banks to their WhatsApp account to allow for payments.

Also read: iOS 11.4 Update Released With AirPlay 2, Messages in iCloud, and More: How to Download and Install

For WhatsApp Payments will be a big focus in India. In fact in April, WhatsApp had put out a job advertisement for an India head where the focus is on Payments. According to the requirement, WhatsApp is looking for someone who has experience in the Payments space as well, in order to drive the strategy around this particular feature.


WhatsApp has over 200 million users in India and is one of the most popular messaging apps in the country. In a market like India, which has a population of one billion plus, WhatsApp’s dominance gives it a significant advantage over the competition. Adding Payments will give it another use case, which could help the app cement its position further. WhatsApp’s Business app is already available for download in India.

Also read: Google Launches Its ARCore Platform in China, Starting With Xiaomi !!

However, WhatsApp’s Payments roll-out has seen some criticism in India, especially from other
digital payment apps like Paytm. Paytm’s co-founder Vijay Shekhar Sharma had accused Facebook and WhatsApp of building a walled garden, when Payments was first rolled out, arguing that it did not support interoperability, which is one of the key requirements of UPI. Later the National Payments Corporation of India (NPCI), the body responsible for UPI had said that WhatsApp’s Payments was only in beta-testing, and that all features would rolled out when the service went live.
WhatsApp Payments is now supporting other features like sending payments to any UPI account, and not just those on the WhatsApp platform. WhatsApp has also added the ability to scan a QR code to make, receive payments, which was missing when the feature first began rolling out.

Comments

Popular posts from this blog

OnePlus Bullets Wireless Earphones: Are The Good Considered For Their Price??

Highlights:- It supports Qualcomm aptX streaming codec Mid-range is detailed and battery life is also very good The OnePlus Bullets Wireless is priced at Rs. 3,990 Over the years, OnePlus has earned a reputation of offering ‘more for less’ and this philosophy continues till today. Alongside the launch of its newest flagship smartphone, the OnePlus 6 (Review), the company also unveiled its very first pair of wireless earphones called the Bullets Wireless. The wired OnePlus Bullets V2 earphones have been hugely popular and have been rated highly by us too, for its value for money and good performance. With the 3.5mm headphone socket slowly disappearing from smartphones, it only made sense for the company to dabble with a wireless option too. The Bullets Wireless earphone is priced at Rs. 3,990 and boasts of features like fast charging, eight hours of claimed battery life, and Qualcomm’s aptX high resolution audio codec support. We’ve been testing th...

Samsung Unveils 2018 TV Range in India With Ambient Display And S Voice !!

Highlights:- Samsung has refreshed its QLED, UHD and Concert range of televisions Prices start at Rs. 27,500 Samsung has introduced a few offers to coincide with the FIFA World Cup Samsung has launched its 2018 lineup of televisions in India. The company, which recently launched a cheaper 43-inch variant of its Frame TV, has refreshed its flagship QLED, mid-range UHD, and 'Make for India' Concert range of televisions. The South Korean giant has increased its UHD lineup from 10 models to 16 models and its QLED lineup from 6 to 8 models. The former now starts at Rs. 64,900 and the latter is priced starting at Rs. 2,45,000. Televisions across both ranges now come with Samsung's One Remote with S-Voice built-in. Samsung's 2018 QLED lineup is equipped with an 'Ambient Mode' that replicates the pattern on the wall behind the TV. This allows the televisions to blend into a room, even when they are switched off. You can take a photo of the...