Ever since demonetization is applied, Indians have made a habit to digital payments, instead of relying on paper currency. After that several Digital Payments System evolved – say its PayTM, FreeCharge and many others. Now to take over the competition of Digital Payments system, WhatsApp is also going to launch its own payments system: WhatsApp Payments a P2P payment system. This new payment method is based on UPI – Unified Payment Interface.
Soon we can pay using WhatsApp using WhatsApp Payments
India is the largest userbase for WhatsApp. Currently, about 200 Billion people use WhatsApp. Due to this, WhatsApp is now developing a digital payment system for the market. This is a person-to-person connection, so it’s obvious it’s well-encrypted.
According to a Job Advertisement on WhatsApp’s website, it says that they are looking for candidates who has a technical & financial background. Over that, he/she must understand UPI (Unified Payment Interface) very well. He/she must also understand BHIM app’s payment methods, to enable money transfer & merchant payments using mobile numbers.
“India is an important country for WhatsApp. We’re understanding how we can contribute more to the vision of Digital India.”
In February, WhatsApp’s co-founder, Brian Acton, had told local media that the app was in early stages of investigating digital payments in the country. He also talked to the Indian government about the matter.
Facebook looking forward to monetize WhatsApp. WhatsApp P2P Payments is checking the app ability reach for business and commercial needs to message users directly. WhatsApp appointed its first chief operating officer recently. Business and monetization-related job listings for the WhatsApp on Facebook’s website is the part of this program.