বাংলায় পড়ুন
Long gone are the days of standing in long queues to transfer money especially for people from Gen X, Y and Z who have come out supporting the cause for cashless India post demonetization. While e-wallets like Paytm and Mobikwik had been facilitating the concept; even these e-wallets seemingly will take a backseat along with online banking or banking applications; thanks to the new ‘instant money transfer’ feature to be introduced by Whatsapp.
Yes, you read correctly! Whatsapp users will be able to link their bank accounts with Whatsapp through Unified Payment Interface (UPI). Though the money transfer feature has not yet been made available to the users, it will be rolled out very soon in the form of an update. The new feature will reportedly be placed under the “settings” tab where the users will be able to link their bank accounts with the UPI system using their phone numbers. The Whatsapp money transfer process will facilitate users to make bank-to-bank transfers. Under the “attachments” button, where location, gallery or contacts can be shared, the new grid will now have a “payment” option. One can transfer money to friends and family but booking travel tickets or any online shopping won’t be possible.
Whatsapp will compete with the likes of Paytm who recently launched a chat feature last November.
In case you are wondering what UPI is…Unified payment Interface (UPI) is a digital inter-bank fund transfer system which has been developed by NPCI (National Payments Corporation of India).
