What was once perceived as a rumor is now turning into a reality as one of the most popular messaging apps WhatsApp is finally rolling out a peer to peer payment system. According to some of the screenshots that have surfaced the payments system is called Whatsapp Payments.
However, the service is not available to everyone and is only in the hands of a few users in India. One of the screenshot reads with the message: “Send and receive money securely with UPI.” Where UPI stands for unified payments interface a method that is used by a large number of banks in India.
The details of how the app actually works are still not available but from what have been observed is that one has to verify their number after accepting the terms and conditions of the app and select their bank.
Earlier in 2017, Facebook Messenger had also rolled out a payment gateway for their users in the UK. The rolling out of payment options in apps that are used daily can certainly change the landscape for how payments are made.