WhatsApp Payments is based on National Payments Corporation of India’s (NCPI) Unified Payments Interface (UPI). WhatsApp Payments is dedicated only for peer to peer payments compared to Paytm, which also has a wallet for people to store money and Google Pay that lets users make payments of bills, buy gold and more.
WhatsApp Payments has partnered with some major banks in India like ICICI Bank, HDFC Bank, Axis Bank and State Bank of India.
How To Setup WhatsApp Payments?
Let’s go through the steps to set up the WhatsApp Payments and link it with your bank account.
- The first step, open WhatsApp on your smartphone and tap on the three dots located on the top right corner.
- Now tap on the ‘Payments’ option and then select the ‘Add payment method’ option.
- Further, this will show a list of supported devices, now select the bank where you have an account. (The account should be linked to mobile number)
- Afterward, the app will then ask to send a verification message from your phone.
- Now tap the ‘Verify via SMS’ button and after verifying, it will show all your accounts in the bank that are linked to your number.
- Next choose the one you want to set up for the app to use, tap done and your process of setting up your account is done.
How To Transfer Money Using WhatsApp Payments?
There are two methods for doing this, let’s go through them one by one.
Method 1 –