WhatsApp payments is here; rolling out starting with India.

Money transfers between bank accounts can be made on the app


Alfred Lee

10 Nov, 2020

WhatsApp payments is here; rolling out starting with India. | BEAMSTART News

With over a billion active users on WhatsApp, parent company Facebook is gearing up to dominate the payments space.

The social networking giant has begun rolling out payments on WhatsApp in India, shortly after winning approval from India’s National Payments Corporation (NPCI).

Payments on WhatsApp allows will now allow users to send money to other users directly on the app

It was designed using the Unified Payment Interface (UPI), an India-first real-time payment system that is supported by over 160 banks in the country.

WhatsApp payments in India.

Users must first have a bank account and debit card in India to set the new payments feature up. Once set up, users can easily transfer money directly between sender and receiver's bank accounts.

“We’re delighted to be working with five leading banks in India: ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank. People can send money on WhatsApp to anyone using a UPI-supported app,” Facebook said in a statement.

This new development comes after Facebook invested $5.7 billion into Indian conglomerate, Reliance Industries, owner of the digital platform, Jio.

It was reported that the two companies were in talks to build a super app much like China’s WeChat.

Already a member?

Sign in to read this article & enjoy the following:

  • Access to members-onnly content, events, and more
  • Connect with a global community of CEOs, Business Owners, and more.
  • Free Business Feature & Profile Listing
  • Post Unlimited Jobs & Hire Talent Effectively
  • Connect with Investors and Fundraise
  • Search through entire members, companies, and investors directory
  • and lots more!

Latest Jobs

Founding People Operations Manager

Hadrius

New York,

Full Time

USD 65000 — USD 100000 yearly

Developer Experience Engineer

Medplum

California,

Full Time

USD 150000 — USD 190000 yearly

iOS Engineer

Reframe (Glucobit)

Georgia,

Full Time

USD 80000 — USD 150000 yearly

Sales Development Representative (SDR)

Mercura

Bavaria,

Full Time

USD 50000 — USD 100000 yearly

Account Executive

Strac

Washington,

Full Time

USD 75000 — USD 150000 yearly

Business Development Director

SPRX

Texas,

Full Time

USD 250000 — USD 375000 yearly

AI Engineer

arnata

California,

Full Time

USD 150000 — USD 200000 yearly

Product Engineer: Core Banking

Slash

California,

Full Time

USD 175000 — USD 250000 yearly

Forward Deployed Engineer

Quindar

Colorado,

Full Time

USD 140000 — USD 175000 yearly

Test Event

BEAMSTART

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).