WhatsApp users can now send money directly via WhatsApp Pay, here's how

WhatsApp users in India can now send money directly through the WhatsApp pay services using their State Bank of India, HDFC Bank, ICICI Bank and Axis Bank bank accounts. 

The platform will use the UPI platform to transfer money, WhatsApp said in an announcement. It can expand its UPI userbase in a graded manner starting with a maximum registered user base of 20 million, news agency IANS reported.

"UPI is a transformative service and we jointly have the opportunity to bring the benefits of our digital economy and financial inclusion to a large number of users who have not had full access to them before," Abhijit Bose, Head of WhatsApp, India, said during the Facebook 'Fuel for India' virtual event.

"We're excited and privileged to partner with State Bank of India, ICICI Bank, HDFC Bank and AXIS Bank to bring simple and secure digital payments to WhatsApp users across India," Bose said in a statement.

The peer-to-peer (P2P) payment feature is available now in 10 Indian regional language versions of WhatsApp.

Here's how to send money through WhatsApp Pay on Android and iPhone

• Open the chat with whom you'd like to send money.
• Now tap Attach, then select Payment.
• Tap Continue to verify your debit card information.
• Enter the last 6 digits of your debit card number.
• Provide expiration date, tap Done.
• Now setup UPI PIN.
• You will get an OTP (One Time Password) that may be pre-filled. 
• If not, you will get an SMS containing the OTP on phone. 
• Type the OTP under ENTER OTP. 
• To send another OTP to your phone, tap Resend OTP.
• Create a UPI (Unified Payment Interface) PIN (Personal Identification Number).
• Now enter it under SETUP UPI PIN and tap Submit.
• Once UPI Setup is complete, tap Done.
• Open the chat with whom you'd like to send money.
• Tap Attach and then Payment.
• Enter the amount you'd like to send.
• Enter a description for the payment and tap Send.

Last month, the company had announced that people across India will be able to send money through the highly popular messaging app.

"This secure payments experience makes transferring money just as easy as sending a message. People can safely send money to a family member or share the cost of goods from a distance without having to exchange cash in person or going to a local bank," a statement WhatsApp had said.

After two years of waiting, Facebook-owned WhatsApp payment service received approval from the National Payments Corporation of India (NPCI) in November to go live on Unified Payment Interface (UPI) with over 160 supported banks.

WhatsApp had said earlier that the payments feature is designed with a strong set of security and privacy principles, including entering a personal UPI PIN for each payment.

In India, the WhatsApp payment service competes against major players like Paytm, Google Pay and PhonePe, among others.

(With IANS inputs)