WhatsApp is working with some leading banks in India to integrate the Unified Payment Interface (UPI) based payment platform. According to reports, WhatsApp has partnered with Axis Bank, HDFC Bank, ICICI Bank and State Bank of India for the time being.
According to ET, a senior bank official said that to make payment as easy as sending text messages, encryption will be required in many layers, so that people's data can be safe. Recent reports had surfaced in the time when the pay feature for WhatsApp was recently spotted in the beta version of the app.
The paid feature will be added to an attachment section and users will be able to transfer money from the same screen. The more leaked information comes out of it, it seems to be very easy to send money from the app.
If the WhatsApp payment feature becomes successful in the market, then it becomes a hold. Then PayTm and the other digital wallets will face a daunting challenge because of the number of WhatsApp users in India is quite high.
