WhatsApp Payment service is coming to US Soon…
Whatsapp Pay – The Facebook-owned messaging service announced its new payment feature last year in other countries like Brazil and India. The new WhatsApp payment features will be a tough competition against other payment platforms like Google pay and Phonepe.
The social media platform says in its blog post that the payment service is free for consumers to use, but a 3.99% processing fee to receive payments, will work by a way of a six-digit PIN or fingerprints to conclude a transaction.
“Now you are going to be able to send money easily as sending WhatsApp messages”, said Zuckerberg. He also stated that the digital payment feature is extremely important during a global pandemic, as they eliminate the for in-person exchange of cash
The WhatsApp pay is so easy and transact directly from your bank account. To activate the WhatsApp pay feature you will need to have a bank account and a debit card, master or visa card, which will enable you to set the four-digit UOI for all transactions.
You will also need to verify your mobile number linked to your bank account. This is a very significant step to enhance security, which is a very significant step to enhanced security.
How To Activate Whatsapp Payment Service
Using the social media payment platform to transfer and receive funds is quite simple. Especially if you are familiar with other payment platforms like Google pay, Payoneer, PayPal, Stripe, this should be very easy:
- Firstly, open WhatsApp on your mobile device
- Go to your settings
- Tap on access payment in your settings
- Follow instructions to set up your account and linked your bank account
- You will receive an SMS with an OTP to confirm your details
- Once, the whole procedure is complete you can send and receive money using your WhatsApp pay.
How To Transfer Money From Whatsapp Pay To Your Bank Account
- Open WhatsApp >settings>payments
- New payments >send to a UPI ID>Input the UPI ID(you can copy and paste this)
- The UPI ID will be verified and confirmed. Once done, type the amount you wish to transfer
- Provide the four digit UPI pin and complete the transaction.
WhatsApp recently launched its payment platform in India and Brazil. Local partners in Brazil like Banco do Brasil, Nubank. A payment processor is also working with WhatsApp to complete transactions.
“We have built an open model to welcome more partners in the future, it stated”. The social media is yet to make an official statement concerning the official release date of the new payment feature in the U.S.