A report last month suggested that WhatsApp was working on a new P2P payments system for India. We are now getting some screenshots of the feature as captured on an iPhone. The screenshot reveals a list of Indian banks as well as UPI (Unified Payments Interface).
Given the amount of people that use WhatsApp in India, a feature like this could be incredibly convenient for the users. With business accounts gradually making their way to WhatsApp, adding a dedicated payments system could make the entire process a whole lot easier for everyone involved.
The screenshot reveals the entire process in just two steps – phone number verification and bank selection. There are no other screenshots available right now, but the procedure seems pretty easy to understand. It has been rumored that the first beta of WhatsApp payments will be made available by the first quarter of 2018, so we’re not far away from getting more details on this feature.
It is being said that the feature is being developed specifically for India, although a worldwide expansion should be on the cards as well. Following the demonetization ruling by the Indian Government in late 2016, companies are pushing heavily towards digital payments. With the government envisioning a cashless economy within the next few years, initiatives like these will surely help users get on board the digital bandwagon.[Via @WABetaInfo – Twitter]