Facebook-owned messaging service WhatsApp is testing a new payments feature in India that aims to allow people to send money to their friends on the app.
The new WhatsApp payments feature could give Paytm & Tez , a tough competition, when launched as WhatsApp currently has over 280 million monthly active users in India.
The payments feature would take advantage of UPI (Unified Payments Interface) and include support by a number of banks, including the State Bank of India, ICICI Bank, HDFC Bank, and Axis Bank, as per the reports. In order to configure the feature, users must first verify their phone number via SMS and then choose a bank. After the completion of the configuration, the option to send a payment becomes available.
To help businesses communicate better with their customers in India, WhatsApp last month officially rolled out “WhatsApp Business” — a free-to-download Android app for small businesses — in the country.
