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WhatsApp: Money transfers between friends arrive in the application
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WhatsApp: Money transfers between friends arrive in the application

by GPaper StaffAugust 10, 2017
WhatsApp seems about to launch a money transfer service between friends integrated with the email application. This feature, called WhatsApp Payments, was found in the 2.17.295 beta version of the Android app. It could be initially deployed in India before it is deployed in the rest of the world.

After Facebook Messenger that will soon have a similar service, WhatsApp seems about to embark in turn in the transfers of money between friends embedded in conversations. The beta version 2.17.295 of the application for Android has indeed a feature called WhatsApp Payments, as reported by our colleagues of 9to5Google. This seems to be an extra effort of the firm to enrich its ultra-popular application all around the world.

WhatsApp to launch money transfers with friends

WhatsApp Payment would allow as its name suggests to send money to a friend directly via the conversation. For now, only a dedicated screen with the mention “immediate bank-to-bank transfers with UPI” and an invitation to accept the terms and conditions of the service is not visible.

The service would have the biggest asset for 1.3 billion active users each month in the application. This could constitute a real financial windfall if WhatsApp decided as PayPal to levy a small percentage on the transaction. For now, it is not known when WhatsApp, owned by Facebook, will officially launch the service or the precise content of these famous terms and conditions. But this could happen quite quickly.

However, WhatsApp may not initially offer service anywhere in the world. Last April, the firm had expressed interest in micropayments to the Indian market. The application claims 200 million unique visitors – this is its first market. The reference to the Unified Payment Interface in the payment screen seems to go in this direction. The IPU can refer to an interface managed by the Bank of India Reserve to facilitate dematerialized payments as part of a policy aimed at reducing the use of cash in the country.

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