New Delhi. WhatsApp Pay is a UPI-based payment service, which has been available in India for a long time. The payment service on the Meta-owned messaging platform offers cashback to users to grow its base. Initially, the company used to give Rs 11 to the users every time they made the first three payments on different contacts using UPI on the app. In this way, the company used to give Rs 33 to the user on three payments, but the company has now announced a new cashback offer.
For using WhatsApp Pay in the country, the company is now giving a total cashback of Rs 105 to the people on payment. WhatsApp Pay users will now get Rs 35 cashback every time they make three payments. Please note that there is no limit on the amount to avail this cashback. Users can also get Rs 35 cashback on sending Re 1 through WhatsApp Pay. However, the company has said that this offer is for a limited time and is available only for select customers.
how to use whatsapp pay
To use WhatsApp Pay like any other UPI-based app, users need to have a bank account, which is synced with their current mobile number. There is a ‘Payments’ section in the messaging service app, where users can link their bank accounts with the UPI service. After this, the app will verify it by sending a message to the users’ bank. Once verified, users can make payments on WhatsApp by scanning their contact, UPI ID or business QR code.
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Importance of WhatsApp’s cashback plan
National Payments Corporation of India (NPCI) has recently approved WhatsApp Pay to increase its user base from 40 million to 100 million. With this approval, the messaging platform will get a definite impetus for the creation of new products and payment service to the customers. Prior to WhatsApp Pay, several payment apps followed the strategy of offering cashback to users for using their platform. These apps include Paytm, PhonePe, Google Pay and Amazon Pay, which adopted comprehensive cashback plans in the early stages of their expansion.
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how it will help whatsapp
After the approval of NPCI, WhatsApp can now add 60 million users to its UPI service. This will help the messaging platform’s payment service compete with major rivals such as PhonePe and Google Pay. All these apps have established their dominance over UPI transactions. However, NPCI has ensured that WhatsApp’s ability to gain an edge over its rivals remains limited, as the messaging app has over 500 million users and if WhatsApp starts offering its payments service to all users at once. This can affect the competition.
People will adopt UPI faster
WhatsApp India’s Director of Payments Manesh Mahatme has said that the company is working to provide a simple, reliable and secure experience for its users as it has received the initial approval from NPCI. He also said that WhatsApp expects the rapid adoption of UPI by 500 million Indians.
Tags: social media, Upi, WhatsApp
FIRST PUBLISHED : June 19, 2022, 07:00 IST