Home Banking How to Send and Receive Money via WhatsApp Payments?

How to Send and Receive Money via WhatsApp Payments?

WhatsApp has launched a new in-chat payment feature known as WhatsApp Pay. The service is a product of National Payments Corporation of India (NPCI). Through this new feature you can instantly send and receive money to any person present in your contact list. The service is UPI-based wherein you can send and receive hassle-free payments.

How to Send and Receive Money via WhatsApp Payments

Introduction of WhatsApp Payment

In February 2018, a trial version of WhatsApp Pay was launched in India. WhatsApp, a free messaging app, in collaboration with the ICICI bank introduced WhatsApp Payments to million users in the country. The NPCI gave its consent to the app on February 7, 2020 to establish its digital payment service following a phased approach. WhatsApp plans to provide payment facilities to 10 million people in the first phase of service.

Enable WhatsApp Payment

WhatsApp payment can easily be enabled on your phone. To initiate it, you must start a payment request to a person from your contact list. To use WhatsApp Pay, a user must initiate a payment to a contact. Once the request is received, the user can set up their UPI (Unified Payments Interface) account on WhatsApp.

Use WhatsApp Payment with Ease

You could engage in direct transactions via the WhatsApp Payment App. You just need to tap on the share file icon and select the ‘payment’ option. You can find the ‘payment’ option at the shortcut menu. You can also review your account details and transaction history in this section. As stated earlier, the payment process works on the UPI approach. Hence, you can send and receive money without revealing your bank details or IFSC codes.

Set-up WhatsApp Payments for Android Phone

The steps to set-up WhatsApp Payment for Android Phone are as follows:

  • Open the WhatsApp application on your android phone.
  • Once the screen opens, you can see three vertical dots at the top right-hand corner.
  • Select “Payments” option.
add payment method in whatsapp
  • Click on “Add New Payment Method”
add payment method in whatsapp upi
  • Select the “Accept” button. A list of banks would be provided. Scroll through this list to find your bank.
  • You will be given a prompt to verify your phone number. Use the prompt to verify it. Ideally, the WhatsApp number should be the phone number registered with the bank.
  • Authenticate your bank details through SMS.
  • Click on the “Allow” button to give permission to WhatsApp to check the SIM card and authenticate that it is registered with the bank.
  • Once again, click on “Allow” tab to permit WhatsApp to send messages to authenticate the bank account.
  • WhatsApp would verify your account details and display all the account numbers listed with the number. Select the account number from which you want to initiate the payment.
  • Click on “Done” button to complete WhatsApp Payment.
add payment method in whatsapp complete
  • You can now see the payment method displayed in the “Payments” page.

Process of Sending Money from WhatsApp

The process of sending money from WhatsApp is quite simple. You can see the payment option in the conversation widow where you can send or request the payment in a simple manner. Listed below are the steps to send the money.

  1. Go to the contact to whom you need to make the payment.
  2. Choose the clip icon and the select “Payment”. 
  3. Enter the amount. You can even send a note with the payment.
  4. Enter your UPI PIN.
  5. A confirmation message would appear in the dialogue box after the successful sending of payment.

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