New Delhi | Jagran Business Desk: Last week, Facebook-owned WhatsApp has ventured into the digital payments space after facing legal hurdles for several years. WhatsApp has initially offered this service to two crore customers out of its nearly 40 crore user base. Through this facility, people across India can send money to another account. WhatsApp has designed this payment feature in partnership with the National Payments Corporation of India (NPCI).

Currently, WhatsApp has partnered with 5 banks -- Axis Bank, ICICI Bank, SBI, HDFC Bank and Jio Payments Bank -- hence, the users will have to need a bank account and debit card of one of these banks to avail this service by using a UPI supported app. Here are 5 things that you should know if you are going to make payments through WhatsApp.

How to register

To make a payment through WhatsApp, you must have a bank account and a mobile number linked to it. After this, you have to first add your bank account and set a UPI PIN. If you already have a UPI passcode, you can also use it.

WhatsApp payment facility works on UPI

Payments facility on WhatsApp works on UPI just like Google Pay, Phone Pe, Bhim and other bank apps. So you do not need to keep money in WhatsApp wallet. You can pay directly from your bank account. When you register for payments, WhatsApp will create a fresh UPI ID. You can see this ID by going to the Payments section of the app.

Can be used with other apps

You can send money using WhatsApp Payments to every person who has UPI, whether through other apps like Bhim, Google Pay or Phone Pe. Money can be sent even if the recipient of the money is not registered on WhatsApp Payments. For this, WhatsApp provides the option of "enter UPI ID". You can send money by entering money from Bhim, Google Pay, Phone Pe or other UPI ID.

Limits and charges

WhatsApp Pay is free and users won’t be charged a transaction fee. However, the limit for a transaction on WhatsApp’s payment service is Rs 1 lakh. 

This facility is available only in India

Whatsapp Pay facility can be used only for Indian phone numbers linked to Indian bank accounts. Many people have WhatsApp on their international numbers. They will not be able to use WhatsApp Pay.

Posted By: Talib Khan