Whatsapp is the most popular tool to connect with your family and friends and now with your business connections of course. WhatsApp has a user base of about 2 billion + people, in which 400 million are only from India and believe me it's an insanely big number. Way back in 2018 February, WhatsApp executed a trial of WhatsApp pay with a partnership of ICICI Bank. It was a UPI based payment method, WhatsApp provided in chat transactions.
Launch in Brazil
Now in 2020 after a long time period, WhatsApp has finally announced that it is going to introduce payment options worldwide. According to WhatsApp blog Brazil has over 10 million small micro-businesses and making online payment methods simple can encourage more businesses to come and play in the digital economy. The very first iteration of this digital payment method is introduced for use in Brazil. People will be able to send money while having a conversation with security. Keeping security in mind WhatsApp transactions will require a special 6 digits pin or a fingerprint to complete. in the starting phase of this payment method WhatsApp will be working with the following banks in Brazil:
- Banco do Brasil
- Nubank
- Sicredi
The payments will support MasterCard and Visa networks, WhatsApp says that it is working with the Cielo which is the leading payment processor in Brazil. All the purchasing and money transactions will be free for individual people, but for businesses, the cost will be similar to the traditional credit card transaction charges. back cost will be considered as the processing fee to aware customer payments in your business.
Launch in India
Reportedly on February 7th 2020 the Facebook-owned messaging app was approved by NPCI to roll out its first official payment service in India but in a phased manner. After that, this is the June month, when we get to hear from WhatsApp itself that it is going to launch its payment option worldwide. The blog doesn't exactly mention the launch in India but from the recent activities, we can guess that WhatsApp is very soon going to introduce the payment method for Indian users too. And most probably the payment method used in WhatsApp payments to be UPI.
Most of the payment applications provide chat services also but along with the chatting in WhatsApp sending money and receiving money will be really cool.
I think it's good, and I am kind of waiting for this, but I want to know what do you think about all this so please do tell me what do you think about WhatsApp payments in comment section.
Thank you guys
Very Soon Whatsup is gng to open
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that's preety unique and cool
ReplyDelete