WhatsApp on Thursday announced that its payment service, WhatsApp Pay, is now accessible to all users in India.
This significant change follows the National Payments Corporation of India (NPCI) lifting the limit of 100 million users, allowing the platform to expand its services to its entire user base of over 500 million.
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A new era for WhatsApp payments
WhatsApp Pay, which utilises the Unified Payments Interface (UPI), enables users to send and receive money directly within the app.
This integration simplifies transactions, making it as easy as sending a message. The NPCI initially imposed user limits to ensure security and performance, but with the recent changes, WhatsApp can now fully tap into India’s booming mobile payments market.
Mark Zuckerberg, founder of Meta, aims to expand WhatsApp beyond messaging. The NPCI’s approval is crucial for WhatsApp, enabling it to better compete with established services like Google Pay and PhonePe.
How to use WhatsApp pay
Setting up WhatsApp Pay is straightforward:
Open WhatsApp and go to Settings.
Select Payments and tap Add Payment Method.
Choose your bank and verify your phone number.
Set up your UPI PIN.
To send money:
Start a chat with the recipient.
Tap the ₹ icon at the bottom right.
Enter the amount and confirm with your UPI PIN.
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This user-friendly approach ensures that transactions are seamless and efficient.
The NPCI’s decision also reflects a broader trend towards digital payments in India, expected to reach a staggering $1 trillion by 2023. As more users adopt digital payments, platforms like WhatsApp Pay will be crucial in shaping how transactions are conducted in everyday life.
The lifting of restrictions comes as the NPCI has also delayed imposing a market share cap on UPI players until December 2026, providing further breathing room for companies like PhonePe, which currently dominates the market.
WhatsApp’s expansion seeks to improve user experience by allowing money transfers directly within the app, aligning with UPI guidelines and transforming financial interactions in social networks.