Whatsapp will soon allow users to transfer money to one another using its messaging platform. The company is testing Unified Payments Interface, a system run by the Reserve Bank of India, which allows instantaneous bank-to-bank transfer. “Banks are not going to be able to compete with this kind of technology,” said Mr. Gupta, who has been working on payments for more than two decades.
Whatsapp will soon allow users to transfer money to one another using its messaging platform. The company is testing Unified Payments Interface, a system run by the Reserve Bank of India, which allows instantaneous bank-to-bank transfer. It's expected that the system will initially launch in India, enabling around 200 million users that use the app there to send money.