WhatsApp Pay is huge news for India.
The WhatsApp instant messaging service app was bought over by Facebook in 2014, and currently has over two billion users worldwide!
In India, there are over 400 million active WhatsApp users! To put that into perspective, the whole of the United States has 350 million people. This puts India at the top of WhatsApp users per any country.
WhatsApp's biggest competitor, a messaging service called WeChat, recently implemented a paying method feature in China, and the feedback has been exceptionally positive. Now, WhatsApp has introduced a paying feature for its users in India.
The payment system in WhatsApp has been developed by the National Payments Corporation of India, which they call the Unified Payments Interface, or UPI. The UPI works by instantly transferring funds between two bank accounts on a mobile platform.
WhatsApp users in India can now instantly and securely pay for local services, share funds with other people over WhatsApp, as well as other online services directly from WhatsApp.
It's probably safe to assume that this service will slowly be made available for other countries over time.
Take a look at the video below by YouTube channel, Later CLips, on WhatsApp Pay - Huge News For India.