Whatsapp Introduces Peer to Peer Payment – P2p
Whatsapp has introduced payments to its messaging app. This is the latest service in Whatsapp and it will let its users transfer money to one another with a text.
It is available only in India for now. After testing it in India, this peer-to-peer payments, would be available other countries and it will have profound effect on banks already hemorrhaging from revenue losses.
With the new service, users can now link their bank account to their WhatsApp account via Unified Payments Interface (UPI) and begin making payments straight to another user’s bank account through a WhatsApp chat.
This Whatsapp feature if utilized well will have a negative effect on the banks as people might now start keeping money in their Whatsapp wallets.
Stay tuned for more updates …