WhatsApp eyes global expansion with international UPI payments | Fusion - WeRIndia

WhatsApp is reportedly on the verge of a significant update that could revolutionize how its Indian users engage in international transactions.

The popular messaging platform, which launched its WhatsApp Payments service in India in November 2020, is now rumoured to be adding an international payments feature.

This move aims to extend the app’s utility beyond domestic money transfers, enabling users to make payments to select international merchants.

The scoop comes from a tipster on X (formerly Twitter), who revealed the potential update.

Although WhatsApp has yet to make an official announcement, the leaked information suggests the feature is in development, with no clear indication of which beta version it might appear in.

Screenshots shared by the tipster show a new “International payments” option in the WhatsApp Payments menu, hinting at the feature’s imminent integration.

This international payments option would allow individuals with an Indian bank account to send money abroad, contingent on the receiving country’s banks supporting international UPI transactions.

The feature’s unique aspect is its temporary nature; it reportedly expires after three months, necessitating reactivation for continued use.

This model differs from Google Pay’s seven-day transaction window, highlighting WhatsApp’s attempt to offer a more extended period for international financial interactions.

The introduction of international payments through WhatsApp’s UPI service could mark a significant milestone for the app, positioning it as a formidable competitor in the global payments arena.

By enabling cross-border transactions, WhatsApp aims to enhance its financial services’ attractiveness, potentially increasing its user base. Besides, it also wishes to solidify its position in the payments sector.

Given the UPI platform’s success in domestic payments, WhatsApp’s expansion into international transactions reflects the growing demand for seamless, borderless financial services.

As the feature develops, it will be crucial to observe how it aligns with regulatory requirements and user expectations, potentially setting a new standard for international payments in the digital age.

Image by Neeclick from Pixahive (Free for commercial use / CC0 Public Domain)

Image Reference: https://pixahive.com/photo/whatsapp/