Will fee be charged to send money through WhatsApp? Here is what Zuckerberg has to say
New Delhi, Nov 06: Facebook CEO, Mark Zuckerberg said that no fee will be charged when sending money through WhatsApp. The statement comes following a nod by the National Payments Corporation of India for WhatsApp to go live on UPI in the multi-bank model.
The CEO said that this mode will be supported by more than 140 banks. "Now you can send money to your friends and family through WhatsApp as easily as sending a message. There's no fee, and it's supported by more than 140 banks. And because it's WhatsApp, it's secure and private too," Zuckerberg said.
All you need is a debit card with a bank that supports UPI and you can set it up straight away. You can find it in the latest version of WhatsApp. We've been working on this with the National Payments Corporation of India, who oversee everything to make sure it's secure and reliable. And we've built it using India's Unified Payments Interface, which makes it easy for anyone to instantly accept payments across different apps -- and for companies to provide people with great services, he also said.
When people can access financial tools, they're more empowered to support themselves and others, or start a business. Long term, we need more innovation that gives people control over their money, and making payments easier is a small step that can really help, the Facebook CEO further said.