Will Cathcart, Facebook’s global head, has announced WhatsApp Pay.
WhatsApp Pay is a payments system that is going to make it easy to make payments through WhatsApp; it will be just as easy as sending a photo or file. You just simply link your bank account to your mobile number to use the messaging application to transfer or receive money.
The messaging app has over 400 million users in India and 1.5 billion globally, which is why its first launch will take place in India. Currently, WhatsApp has been permitted to test its small-value transactions by India’s National Payments Corporation.
If tests go well, the UPI standardized payments provider could potentially roll out its features to other international markets.