The way most people control and handle their money has completely changed in recent years. Cash usage continues to decline every year as more and more people transition to a completely online system. It is hard to recommend using cash when you can do everything with cards and your smartphone. The cashless lifestyle just got a little easier with the introduction of payment systems like Western Union. The newest addition to this is WhatsApp, even though it is available in select countries.
What Is WhatsApp?
WhatsApp is a popular text and voice messaging service that is used by more than two billion people around the world. The app lets you send messages to anyone for absolutely no fee. This makes it a great way to communicate with friends and family in other countries without having to worry about expensive fees from your cell phone provider. WhatsApp also features the best encryption software of any messaging service, so all of your conversations are safe from hackers. With such a large user base, the addition of a payment service will completely change the way a lot of people send money online.
How To Set Up Payments
You will need to link your banking information to WhatsApp before you can send money. This is done directly in the app. The first thing you do is select the overflow menu on the upper right of the screen. You will then select Payments in this menu. The app will instruct you to add a new payment method. Choose your primary bank from the list and enter the pertinent information. Once you are done with this step, you will be required to verify your phone number by receiving a text message. WhatsApp will verify your information with your bank as an extra security measure.
How To Send Money On WhatsApp
It is extremely easy to send money on WhatsApp once you have everything set up correctly. Everything is done in the same place you talk with your friends and family. The first thing you do is pull up the conversation window of the person you want to send money to. You will then push the attachment clip. This is the same icon that is used to attach pictures and videos. There will now be an option to attach a payment.
Once you click the payment option, you will be asked to enter a dollar amount. You will need to verify the money transfer with your pin number before the transaction is completed. If the other person does not have payments set up on WhatsApp, then you may need to go through an additional step to ensure the money goes to the right account. The entire process will take seconds, so you will be able to send money without ever having to stop your conversation. This means you can almost instantly send money to a friend while talking about concert tickets or splitting a gift purchase.
The addition of a payment option in WhatsApp is certainly going to be popular. It does not get much easier than attaching a payment directly to a text conversation.
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