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WhatsApp Rolls Out Payment Services In India; Sending Money Now As Easy As Sending Messages

The messaging App, WhatsApp on Friday,November 6,2020 rolled out payment services for its customers. Through this facility, people across India will be able to send money through WhatsApp. 

WhatsApp has designed this payment feature in partnership with the National Payments Corporation of India (NPCI) using the Unified Payment Interface (UPI). 

Facebook founder Mark Zuckerberg said he is excited that WhatsApp has been approved to launch payments across India. His statement came after the messaging App rolled out payment services for its customers. 

Through its  facility, people across India will be able to send money through WhatsApp. 

To send money on WhatsApp in India,it's necessary to have a bank account and debit card in India. WhatsApp sends instructions to banks ,also known as payment service providers ,that initiate the transfer of money via UPI between sender and receiver bank accounts. 

"Now you can send money to your friends and family through WhatsApp as easily as sending a message. There's no fee,and it's supported by more than 140 banks. And because it's WhatsApp, it's secure and private too," Zuckerberg said in a video. 

"It's safer than handing someone cash and eliminates the need from standing in line at the bank. So you can quickly send money to families and friends that may be miles away across the country,"

"With UPI ,India has created something truly special and is opening up a world of opportunities for micro and small businesses that are the backbone of the India economy. India is the first country to do anything like this. I'm glad we were able to support this effort and work together to help achieve a more digital India. I want to thank all our partners who've made this possible," he added. 

Payments are available now in ten Indian Regional language versions of WhatsApp. 

Source : cnbctv18

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