WhatsApp has given great news to its Indian users just ahead of the festive season. At the Global FinTech Festival (GFF) 2021, WhatsApp released ₹ symbol in chat composers to make the payment process easier for users in India. It has also been announced that the camera icon in the composer can now scan any QR code to enable paying at more than 20 million stores in India.
Payment process to be easier
In November 2020, the National Payments Corporation of India (NPCI) gave its approval to Facebook and WhatsApp to ‘Go Live’ on the Unified Payment Interface (UPI) service. After these updates, the payment process on WhatsApp has become easier. The users will now be able to make payments using the ₹ symbol and camera icon. These updates will soon be made available to all users.
What is UPI?
Unified Payments Interface is an easy way to make digital payments. It is linked to your bank account through mobile apps. This is an easy and secure way to make digital payments. You can send money to your friends and relatives securely. You can pay any type of bill, pay for online shopping, and transfer funds instantly through UPI.
How does it work?
UPI works on the Immediate Payment Service. This service is used for net banking as well. The UPI PIN generated by the user on his/her smartphone becomes equivalent to an account number. In addition to paying your bills, UPI allows you to make other transactions.