It was recently reported a select few WhatsApp users now have the ability to transfer money through the messaging app.
They have been several rumours in the past reporting on the company developing a peer-to-peer payments system, this new system has now launched in India, ahead of what is expected to global roll out.
Some users of the system have already posted screenshots online with the name WhatsApp Payments being shown.
One of the screenshots posted online read, “Send and receive money securely with UPI.”
— WABetaInfo (@WABetaInfo) 8 February 2018
A whole host of Indian banks uses the UPI payments system, UPI stands for unified payments interface.
The new feature will make it easier to transfer money to your family and friends and help you collect money owed to you.
Facebook Messenger launched their own version of a peer-to-peer system for payments, similar to the upcoming WhatsApp feature allows to request and send money in any chat message, although the feature isn’t yet available to users in Thailand.
The process is kept quite simple, you open one of your chats with your friends, then press the blue + symbol then the green payments symbol.
The first time you use this process you will be asked for a one-time set up of your payment account, then you simply add the amount you wish to send press pay and enter your debit card details.
To receive money from a friend, you again open a chat but press the ‘Add Card’ option, enter your debit card details to successfully set up your account to receive payments.