WhatsApp could be gearing up to launch UPI payments features on its app very soon in India. The beta version of the chat app, version 2.17.295, reportedly features UPI payment option. As per reports, the feature is hidden and is still being developed. With this payments feature, WhatsApp users can initiate direct bank to bank UPI transfers from the chat app itself. WhatsApp had already hinted earlier to bring UPI integration into its chat app. However, RBI is yet to clear the proceedings.
WhatsApp was earlier reported to hire people who have expertise in UPI, Aadhaar and Bharat Interface for Money (BHIM). WhatsApp co-founder Brian Acton, during his trip to India early this year, had said that the company may enter digital payments and that it is in ‘early stages’ of investigating the segment.
If this report is believed to be true then WhatsApp will surely be a great beneficiary as it has a user base of close to 200 million and it would be interesting to see whether the company will be able to turn its user base into faithful customers or not.
Payments Bank Paytm is reportedly looking forward to launching its new messaging service to compete with WhatsApp by the end of August. According to a Reuters news report, the Paytm chat app will offer its digital payment option inside the app which can be used “to buy everything from food to plane tickets.” For those unaware, WeChat already offers the option to transact digitally on its chat platform and is quite popular in China.