How To Transfer Money From Whatsapp: One of WhatsApp’s features now allows you to send, receive, and set up money. India is going to have quite a large number of users performing their transactions through WhatsApp.
Facebook messenger, on the other hand, has been testing out its payment services in its country for over a year now with promises but weren’t able to meet up.
Now the WhatsApp has been granted approval by the NPCI( National Payment Cooperation Of Indian). This service payment actually granted access to 20millon users on WhatsApp while the messaging app has got over 400 users in India.
Reasons being that the National Payment Cooperation of India gave access to a thirty percent (30%) cap to be implemented on total payment volumes through every third-party payment app (UPI) from January 1, 2021.
Just to enable you update the applications to the latest Android and iOS version.
To activate the WhatsApp pay feature you will need to have a bank account and a debit 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, which is a very significant step to enhanced security.
Follow the steps below to help you out in setup, sending and receiving payment.
How to Setup WhatsApp Payment Account
Steps on how to setup your payment account are below.
- Go to your WhatsApp.
- There’s a three dotted icon at the top right of your screen, click on it.
- Click on payment.
- You’ll get list of bank names so select the name of the bank , your number will be verified.
- Tap on the verify through SMS. Just ensure the WhatsApp number is the same as the one you linked to your bank account.
- Next up will be the verification process. Once it’s complete, finish setup payment.
- Set up a UPI pin for carrying out transactions just the way it is on other apps which will give you access to see the selected bank on the payments page.
How To Transfer Money From Whatsapp Pay To Your Bank Account
Before transferring funds from your WhatsApp pay, ensure that your bank account has a UPI setup maybe on other payment platforms like Google pay or PhonePe. Here is how to send money on WhatsApp pay to your bank account:
- Open WhatsApp > Settings > Payments
- New Payment > Send to a UPI ID > input the UPI ID (you can copy-paste this)
- The UPI ID will be verified and confirmed. Once done, type the amount your wish to transfer
- Provide the four-digit UPI pin and complete the transaction.
- A confirmation message will pop in once the process is complete.
Don’t forget your bank account has to be linked to WhatsApp pay for a successful transaction. That’s all you’ll need to proceed with your Setup, sending, and receiving money. Have fun!!