The messaging service will make it possible to obtain money back through the use of WhatsApp payments in the future. And that’s a piece of good news.
WhatsApp is constantly on the lookout for new revenue streams. They had already come up with a kind of internet company directory a few months prior. Because WhatsApp does not display advertisements, WhatsApp Pay is one of the few revenue streams for the popular messaging programme (yet). Additionally, in order to encourage more individuals to utilise this payment method, the corporation may give cash back incentives.
Payments using WhatsApp
WABetaInfo has further information on the subject. According to a report from them, WhatsApp is working on a cashback feature for its Android app, which will be available in a beta version. Following two years in test mode due to regulatory obstacles, WhatsApp launched WhatsApp Pay in India in November after being in test mode since 2013. As a result, they’ve been working on it for quite some time.
WhatsApp’s solution is based on the Unified Payments Interface (UPI) standard, which is also utilised by other payment apps, such as Walmart’s PhonePe, Google’s Google Pay, and Indian fintech behemoth Paytm, to process transactions.
in order to entice
This is, of course, not a novel concept. Other apps are already utilising this technology and providing cashback incentives. This is done in order to persuade customers to choose their services over those of their competitors. This is the first time we’ve heard that Facebook (the company that owns WhatsApp) will also be experimenting with it. At the moment, WhatsApp Pay does not have a significant presence in the Indian UPI payment business. It’s possible that the cashback offer is the company’s attempt to increase its popularity.
According to WABetaInfo’s research, the present code relates to a one-time reward of only ten cents ($0.14) per transaction. This is quite low when compared to what other apps, like as Google Pay, were offering at the time of debut. However, it is possible that this will change during the implementation. In addition, you will receive your payback 48 hours after making the payment has been completed.
It’s also possible that the incentive is only available to users who use WhatsApp Pay for the first time, so if you’ve already used it, you might be out of luck. The messaging service is now experimenting with the feature, and the question is whether it will be a success.