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No Transfer Of Money Via WhatsApp Yet In India
By: Tupaki Desk | 13 Feb 2018 9:20 AM GMT
Media Reports has spread the message that money transfer via WhatsApp is the new feature which has been rolled out. However, This particular feature isn't enabled yet in India as it's still in beta. Although few WhatsApp Users had received beta update, It's still unavailable for 200 million Indian Users. This is the reason why no official announcement has been made so far.
Digital payment services such as Paytm and Google Tez would have a tough competition ahead if WhatsApp introduced the money transfer feature. Using UPI (Unified Payments Interface), Several banks will be linked to make the feature User Friendly.
In the Beta version, There is a big list of banks which are supporting the new feature. Even a payments feature can be found in the WhatsApp Settings menu. To use the feature, Users need to verify their number and choose the preferred bank for completion of configuration.
WhatsApp Privacy Policy must be accepted by the Users to use the money transfer feature. Terms & Conditions include WhatsApp is not a licensed financial institution, do not receive, transfer or store any funds in connection with Payments, and are not responsible for UPI service interruptions or acts or omissions of PSPs or your bank including the payment, settlement and clearance of funds.
Digital payment services such as Paytm and Google Tez would have a tough competition ahead if WhatsApp introduced the money transfer feature. Using UPI (Unified Payments Interface), Several banks will be linked to make the feature User Friendly.
In the Beta version, There is a big list of banks which are supporting the new feature. Even a payments feature can be found in the WhatsApp Settings menu. To use the feature, Users need to verify their number and choose the preferred bank for completion of configuration.
WhatsApp Privacy Policy must be accepted by the Users to use the money transfer feature. Terms & Conditions include WhatsApp is not a licensed financial institution, do not receive, transfer or store any funds in connection with Payments, and are not responsible for UPI service interruptions or acts or omissions of PSPs or your bank including the payment, settlement and clearance of funds.
