Payments apps: WhatsApp vs Google Tez vs Paytm and what they offer
WhatsApp's newest feature allows users to send money directly into their friend's bank accounts using UPI. And it may be a serious threat to existing apps such as Paytm and Google Tez
WhatsApp users in India can now send and receive money on the app using UPI (Unified Payments Interface). The feature is rolling out on both Android and iOS and will show up on all devices in a few days. Introduced by NPCI (National Payments Corporation of India), UPI is a payment platform which sends money directly from the sender’s bank account to the recipient’s account. So a person sending the money doesn’t have to add money to a wallet or use a debit card for payments.