Novi said that sending payment in this will be as easy as sending any other attachment through WhatsApp chat. According to a report by Gizmochina, the new feature in WhatsApp can be accessed through the paper clip icon on Android and the + icon on iOS devices. After this the user will have to choose Payment in the menu. There is no fee for sending or receiving money through this feature. Apart from this, there is no limit on transactions. Users will also be able to easily transfer funds to their bank accounts using cryptocurrencies.
This trial was to be done earlier for both the US and Guatemala. However, it is currently being done only in the US. If the trial is successful in the US, registrations for Novi may increase. The WhatsApp payment platform comes with the security of end-to-end encryption. It is available in English and Spanish languages.
It is not yet clear how long this trial will last in the US. The facility of payment in normal currency through WhatsApp is already being provided in some countries including Brazil and India. WhatsApp launched the payment service in India in November last year after several months of testing. The service was started with five banking partners, but later the number of partners was reduced to four. Jio Payments Bank was removed from the list. The WhatsApp Payments feature has been designed in partnership with the National Payments Corporation of India or NPCI and is a payment method based on Unified Payments Interface or UPI. To use this feature, the mobile number associated with WhatsApp must be linked to the user’s bank account. WhatsApp recently got permission to increase the number of users for the payment service in India.<!–
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