Unified Payment Interface (UPI) is a type of payment system that enables people to send and receive money via a mobile app or mobile device only, it is a simple, easy-to-use, and always available system that makes sending and receiving money convenient.
UPI payments systems are really popular in India and WhatsApp is preparing to make its entry into the scene. WhatsApp is reportedly testing its UPI feature that will allow users to send and receive money while chatting away or viewing statuses.
UPI payments have drastically reduced the inconvenience associated with the traditional banking system and made it easy to send and receive money without taking bank details or having to add beneficiaries.
WABetaInfo broke the news about the imminent feature. According to WABetaInfo, a new option has been created to support UPI payments that will soon be released. The screenshot shared by WABetaInfo read “Send and receive money securely, right where you chat”. When this is rolled out, all users will need to do will be to link their bank accounts with their WhatsApp and automatically they can send and receive money using the instant messaging app.
WhatsApp launched its payments services in India as a beta service in 2018 and got permission from the National Payments Corporation of India (NPCI) in 2020 to launch its UPI gateway in a “graded” manner.
WhatsApp is one of the most used instant messaging platforms and the UPI gateway when rolled out, will make payments fast, secure and easy.