Popular messaging giant WhatsApp has finally opened up its Unified Payment Interface (UPI) for the masses. For the past few days, the brand is allowing people to send invites to other users to initiate their own UPI service.
For availing this service, users are required to sync their bank accounts and verify it with One Time Password (OTP). The user will receive the OTP on the registered mobile number.
The entire process of verifying is similar to the process of its other counterparts such as Paytm UPI,BHIM app or Google Tez. The service offered by WhatsApp is a bit unique from other competitors as it allows the user to complete a transaction worth Rs 5,000 (Maximum) in a single go.
With the help of WhatsApp UPI, users can send money to others just by scanning the QR code. The QR code can be generated easily with the help of UPI-powered app.
To receive the invite link for the UPI, you will have to upgrade your WhatsApp to the latest beta version. In February, WhatsApp opened up its UPI services for selective users. However, the WhatsApp Pay’s launch was delayed to some legal issues pertaining to Facebook’s data breach incident.
Further, the Ministry of Electronics and Information Technology (MeitY) and Reserve Bank of India (RBI) also raised flagged off several concerns to the National Payments Corporation of India (NPCI). This was done for seeking the details about the data storage policy of the company.