WhatsApp is currently testing its payment services in India and ahead of an offciail launch, the Facebook owned service has said that it has updated its privacy polich and terms of use. WhatsApp on Saturday said that it has updated its policies and terms of service to “reflect the addition of payment interoperability features” ahead of the full-fledged launch of the service.
“We’ll be updating our WhatsApp payments Terms of Service and Privacy Policy to provide simpler language on how the payments feature operates. It also reflects the addition of payment interoperability features we’ve added since the beta started,” a WhatsApp spokesperson told PTI. The spokesperson added that the company has worked closely with National Payments Corporation of India (NPCI), bank partners, and the Indian government on these details of how its service works.
Around one million people are “testing” WhatsApp’s payments service in India, which is the largest base for the Facebook-owned company that has over 1.5 billion users globally. WhatsApp has over 200 million users in India. The messaging app has already received permission from NPCI to tie up with banks to facilitate financial transactions via Unified Payments Interface (UPI).
However, the offcial launch date of WhatsApp’s payments service is still a mystery but with the policy updation the company feels it is a step closer to the full launch.
Here’s the step-by-step guide on what you have to do to enable WhatsApp UPI feature on your phone:
1. Users who already have the feature need to go to their friend’s profile on WhatsApp.
2. Once there, they simply need to tap the attachment (paper clip-shaped) button.
3. This will prompt them to see the payment option. They need to tap the payment option.
4. This will give them an error, saying that their friend doesn’t have WhatsApp UPI feature just yet. But in reality, they have just enabled the WhatsApp UPI feature for their friend.
5. Now, you can go to the settings section within the app where you will see the payment option yourself.
6. You can now invite your friends in a similar fashion.
WhatsApp payment service, which rivals the likes of Paytm, has been in beta testing over the last few months. Industry watchers expect the full-fledged launch in the next few weeks.As part of the updated terms, WhatsApp said it may collect additional information when payments service is used.
“We’ve added new features like interoperability that request additional information (related to) WhatsApp payments user and user of any BHIM UPI-enabled app,” the spokesperson said.
The terms state that WhatsApp collects information “when you send, receive, or request a payment, including the date and time and reference transaction number”. Also, when someone makes a payment to a WhatsApp contact, the company collects the sender and receiver’s names and BHIM UPI IDs.
The company added that it uses “all the information we have to operate, provide, improve, understand, customise, support, and market our services”.
“This includes using the information to provide payments and customer support, to protect you and others using our services from fraud, abuse, or other misconduct, and to review your account activity to determine whether you continue to meet our Terms and Payments Terms,” it added.
It also outlined that the company works with “the other Facebook companies to provide payments, including to send payment instructions to PSPs (payment service providers)”.Paytm founder Vijay Shekhar Sharma had earlier this year alleged that WhatsApp’s UPI payment platform has security risks for consumers and is not in compliance with the guidelines.
The Reserve Bank of India has mandated all payment system operators to ensure that data related to payments is stored only in India giving firms six months to comply with it.According to sources, the ministry of electronics and IT has asked NPCI to check if WhatsApp’s payments service conforms with the RBI rules and data security of customers.
