How to Use WhatsApp Pay – How to set up, Send & Receive Money via WhatsApp Payments

WhatsApp Pay, a payment facility by Facebook-owned WhatsApp, is now available to 20 million users in India. The facility has been launched with the support of banking partners including the State Bank of India (SBI), HDFC, ICICI, and Axis Bank.

This payment feature can act as a competitor to other digital payment apps including Paytm, Google Pay, PhonePe. WhatsApp payments are modeled on the National Payments Corporation of India (NPCI) Unified Payment Interface (UPI) system. It received approval in November 2020 to go live on a peer-to-peer basis.

Enable WhatsApp Pay

To use WhatsApp Pay, a user must initiate payment to contact. After the request is received, the user can set up his UPI account on WhatsApp.

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How to use WhatsApp payments

Users can send money directly via chat by tapping on the share file icon and selecting Payment. The Payments section is available on the shortcut menu. WhatsApp payments users can view their payment transaction history and account details in that section. The payment system works on the Unified Payments Interface (UPI) method, where fund transfers can be initiated without providing the bank account number and IFSC code of the recipient.

WhatsApp Pay Transaction Modes

WhatsApp allows users to send money only to their contacts after which it enables the UPI ID. WhatsApp Pay users can send money by entering a UPI ID. Through the QR Code, WhatsApp users can also send money to those who are not on their contact list.

Steps to add a Bank Account

1. Open the WhatsApp Messenger app on your mobile and tap on the three-dotted icon (located in the upper-right corner of the home screen).
2. Now go to ‘Payment Options’ and a list of banks will appear on your device screen. You can only select the bank account which is linked to your existing mobile number as used to register for WhatsApp.
3. Now to go ahead, you already have a UPI account, then the app will ask for your UPI PIN. If you do not have a UPI account, you will have to verify your account by submitting the required debit card details. (Note: If you see an error message at this point then try again after some time).
4. Setup is completed successfully once you are done with the steps listed above.

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Read on to know how you can set up a WhatsApp Pay account on your phone.

How to Set up WhatsApp Payment Account

• You must first update your WhatsApp app by going to Google Play Store or Apple App Store.
• Then open WhatsApp on your mobile phone.
• For Android devices, open WhatsApp and click on the three dots that appear on the top right side of the app. For iOS, click on the ‘Settings’ option at the bottom right corner.
• Select the ‘Payment’ option. Select ‘Add payment method’. You will be asked to accept WhatsApp payment policies. Click on ‘Accept and Continue’.
• You will get the list of banks, Select the bank from which you want to make the payment. Also, if you have two bank accounts in one bank, select the bank account with which you want to make the payment.
• While selecting a bank, make sure that the WhatsApp mobile number is the same which is linked to your savings bank account. This is because for verification purposes an SMS will be sent to this number.
• After verification is complete, you will need to set UPI PIN to make future payments.

How to send money via WhatsApp

• From your WhatsApp contact list, select the contact to whom you want to transfer funds.
• Open the chat option and then choose the payment option. If the contact you choose is not using the WhatsApp payment option, you can transfer money using the UPI ID of a person from another platform, say Google Pay, PhonePay, etc.
• You will receive a pop-up informing you that the contact is not using the WhatsApp payment system, after which you can select the option ‘Send to UPI ID’.

Users can also transfer money using the scan QR code option.

• Enter the amount and your UPI PIN. After entering the correct PIN, the amount will be transferred to the receiver’s bank account.

Receiving money through WhatsApp Pay

If the sender has WhatsApp Pay: Suppose, If the sender is transferring money to you through WhatsApp Pay, then he has to follow all the above instructions to transfer the money.

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If the sender does not have WhatsApp: Suppose, the sender does not have WhatsApp, you can still receive money. You must have to share your WhatsApp Pay UPI ID with the sender. The sender will enter your WhatsApp Pay UPI ID on payment platforms such as Google Pay, PhonePe, etc. so that money can be sent to you. WhatsApp will inform you that you have received the money.