Monday, January 18, 2021

What is WhatsApp Pay service, users will get these benefits for the first time

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Know about whatsapp pay service

WhatsApp Pay has been in beta testing in India for two years. Due to some problems coming in payment method, WhatsApp Pay has not been officially launched in India but now WhatsApp will be launched in India.

  • News18
  • Last Updated:November 6, 2020, 8:55 AM IST

new Delhi.The National Payments Corporation of India (NPCI) has allowed WhatsApp (WhatsApp) to go live on UPI. According to NPCI, WhatsApp can expand its UPI user base in a phased manner, starting with a registered user base of up to 20 million in UPI. Currently, Paytm, Google Pay and Phone Pay are big players in the digital payment market. Let us know that WhatsApp has been trying to launch its payment service for a long time because it wants to come in the digital payment market in India. . In July last year, its global head Will Cathcart came to India with some senior officials. He came to meet RBI, NPCI and officials of the Ministry of Electronics and IT and IT Minister Ravi Shankar Prasad. In conversation with the media, Cathcart said that the company intends to launch the payments service this year (in 2019).

What is WhatsApp Pay Service- WhatsApp Pay has been in beta testing in India for two years. Due to some problems coming in payment method, WhatsApp Pay has not been officially launched in India but now WhatsApp will be launched in India soon.

Users will get these benefits for the first time-

WhatsApp Pay Service With the help of, you can transfer money to anyone’s account anywhere. This will be UPI service. Apps of UPI are very special because they do not just work for payment but also do many other things. At this time, you can also use UPI with the help of many apps like BHIM, Phone Pay, Google Pay, Mobikwik, Paytm, you can pay bill through UPI. Apart from this, you can pay someone online. Also, you can also transfer money directly into bank account (money transfer in account) and recharge.

According to the NPCI website, a transaction of 1 lakh rupees can be done daily from an account now. Under this upper limit, different banks have maintained their own sub-limits. For this, you will have to contact your bank.

The new rule will be applicable from January 1NPCI has imposed a 30 per cent limit on the total volume of processed transactions in UPI applicable to all third party app providers (TPAPs). This rule will come into force from 1 January 2021. NPCI said in a press release that this has been done in view of UPI reaching 2 billion transactions per month and seeing future growth. According to the statement, this will help to overcome the risks and improve security as the UPI ecosystem progresses. The 30 per cent limit will be calculated based on the total volume of transactions processed in UPI during the last three months.

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