Connect with us

Latest News

How To Use WhatsApp Payments Feature In India

Published

on

How To Use WhatsApp Payments Feature In India,Startup Stories,Best Startup Stories Tips 2018,2018 Latest Business News,WhatsApp Payments Feature,WhatsApp Payments India,WhatsApp Payments UPI Feature,WhatsApp Payments,Whatsapp App Payment,Whatsapp Payment Service,WhatsApp UPI Platform

WhatsApp the online messaging service launched their payments feature on Sunday. The United Payment Interface, UPI platform, is now live on the iOS as well as on Android devices. It is interesting to note here, India is the first country in the world to get this feature! So far, this feature has only been made available in the beta version and will soon be made available in the updated versions.

With the introduction of the payments option, WhatsApp has become more than just a messaging service. The newly rolled out payments feature lets users transfer money to their WhatsApp contacts through the app. By introducing this feature, these UPI based payments feature is squashing all competition and other online wallets in India. Further, this feature also allows users to transfer money directly from their bank accounts to anyone instantly.

WhatsApp payments option is now available in two places on the app, settings option and below the attachment icon when you open a particular chat. It is very similar to other mobile wallets like Paytm, Mobikwick and Tez. However, WhatsApp payments app as of now does not support payment option for merchants. This feature can only be used for bank to bank money transfer.

Things to keep in mind before using WhatsApp UPI feature on your phone
* The foremost factor that the sender should keep in mind is that user’s WhatsApp number should be the same as the number linked to the bank account along with UPI option activated.
* Before using the payments feature the sender and the receiver must ensure both their phones have the latest WhatsApp version.
Here is how you can use the app
For Android users the payments option is already available. However, iOS users will eventually get the feature in the upcoming days. Users can head on to settings and select the payments option, or users can also directly go to the chatbox of the contact they wish to transfer money and select the payments option. Users can verify their UPI option activated phone number via SMS, or simply create a UPI account with a pin via WhatsApp.
The advantage of the WhatsApp payments feature is the ease of tracking the payment via the payment history option. WhatsApp also notifies the sender and the receiver about the money transfer. This peer to peer payment service would be available for every user soon. This application makes it easier for businesses to connect with customers and vice versa. The major purpose of this feature is to ensure the widespread usability of WhatsApp.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Virgin Hyperloop To Transform Indian Transportation System!

Smruthi Kishore

Published

on

Virgin Hyperloop To Transform Indian Transportation System,Startup Stories,2018 Latest Business News,Startup News India 2018,Startup Virgin Hyperloop,Indian Transportation System,Hyperloop Transport System,Richard Branson Unveils Hyperloop Plan,Virgin Hyperloop Founder
Sir Richard Branson led transportation startup Virgin Hyperloop, has signed a framework agreement with the Maharashtra Government to build a Hyperloop transport system between Mumbai and Pune. The high speed travel system will reduce the travel time between the two cities to 25 minutes from the current travel time of 3 hours.
The installation of this system, combined with an operational demonstration track would make India the first country to host a hyperloop system. India may also debut the high speed transport system before Middle East, Northern Europe or even the United States of America. However, it may take at least another 3 years to complete the test run and 6 more years to start commercial operations.
During the Magnetic Maharashtra event, Virgin Group Founder and Virgin Hyperloop One chairman, Sir Richard Branson announced the framework agreement in the presence of the Prime Minister Narendra Modi and Maharashtra Chief Minister, Devendra Fadnavis. At present, Virgin Hyperloop has the capacity to travel up to 1,000 km per hour. However, according to reports, the current Hyperloop system is expected to function at 350 km per hour.
The route is likely to come up in parallel to the Mumbai Pune Expressway and will be built without any resettlement of residential areas. The project will begin after six months of assessment on the feasibility and durability. This initial period of six months will define details like route alignment, environmental impact and commercial viability of the project. Only after the initial study will the work on the construction of the Hyperloop begin.
The demonstration track will be constructed in two to three years and serve as a platform for testing, certifying, and regulating the system for commercial operations. The second phase will target to complete construction of the full Pune Mumbai route by 2025. With easier access to airport roads, the Hyperloop will be able to ferry across 150 million passengers. The result of this Hyperloop is to ensure the creation of a connection between nearly 72 million people across Maharashtra, Pune and Karnataka.

“The proposed Hyperloop transportation system will transform the transportation system and make Maharashtra a global pioneer in the space. The socioeconomic benefits of the project is $55 billion (Rs. 3,54,750 crore),” Branson said, claiming that the project will create thousands of jobs.

Continue Reading

Latest News

Is The Cryptocurrency And Bitcoin Era Over?

Smruthi Kishore

Published

on

Is Cryptocurrency And Bitcoin Era Over?,Startup Stories,2018 Latest Business News,Entrepreneur Stories 2018,New Era of Bitcoin,Bitcoin Vs Cryptocurrency,popular digital currencies,Bitcoin Latest News,Bitcoin Value,Bitcoin Trading,India 3 Largest Exchanges

Cryptocurrencies saw a sudden rise in the recent times. At present, there are atleast ten popular digital currencies that are ruling the virtual currency industry, with Bitcoin standing on the top. However, despite reaching a high valuation of $ 20,000 in December, the value of Bitcoin dipped by more than 50 % on Friday.

Bitcoin’s price dipped below $8,000 for the first time in 11 weeks in the midst of a broader cryptocurrency sell off. On 2 February, 2018, the value of Bitcoin dipped to $ 7,695.10. Even though it bounced back and regained some of its lost value, Bitcoin stands a little over $ 8,000, the only lowest position in its history.
This is not the first time Bitcoin fell by such an enormous percentage. This has happened not once, but five times in the past and each time, Bitcoin has bounced back with renewed vigour and strength. What is different this time is, the other cryptocurrencies are steadily declining as well. The year 2017 ended on a high note for these digital currencies. Unfortunately, this trend has not followed in the current year.
Ripple has been facing a steady crash and stands at a value of $0.70, the lowest it has been at since 14 December, 2017. Although Ethereum reached $ 1,358.45 on 14 January, 2018, after significant troughs and peaks, fell way down to $ 827.67 on 2 February, 2018. This alternative rise and fall of the cryptocurrency values have been credited to the regulations issued by the Asian markets.
South Korea brought in regulatory legislation affecting the Bitcoin market, while China has closed some cryptocurrency exchanges and banned all Initial Coin Offerings. India is the latest country to act against the cryptocurrency movement as it makes moves to curb the use of Bitcoin for illegal activity. Looking at this negative impact, it seems as if the rise in Bitcoin popularity has also increased a lot of regulations.
This alternating rise and fall system brings to mind one important question. With the value of the top three cryptocurrencies in the world falling below their original highs, is it safe to say the era of cryptocurrencies is coming to a close? Is this the end of the digital currency world or will the virtual world finally be incorporated into the real world?

Continue Reading

Latest News

Budget 2018 – How Are The Startups Affected?

Ramya GovindRaj

Published

on

Budget 2018,#Budget2018,How Are The Startups Affected?,Startup Stories,2018 Best Motivational Stories,Inspirational Stories 2018,Budget 2018 Highlights,India Union Budget 2018 Highlights,Union Budget 2018 Affected Startups,Indian Startup Ecosystem,Budget for Startups,How to Budget 2018 Impact Startups
The current NDA government have been very supportive of the Indian Startup Ecosystem. When it comes to the budget for the year 2018, the one thing that really affects startups is the direct and indirect taxations proposed by the government for the current year. The Union Budget 2018 created quite a bit of unrest in the startup community regarding reforms in Angel Tax and use of cryptocurrencies. Here is how the Union Budget of 2018 will affect the startup ecosystem.
Some of the biggest proposals revealed during the Budget was the plan to create a new regulatory regime for venture capital funds and angel investors. Not just that, a national programme for artificial intelligence for furthering the growth of technology has also been introduced. Jaitley also revealed a proposal that outlined a plan to set up five lakh Wi-Fi hotspots in rural areas and aims at increasing the usage of hybrid instruments to attract venture capital investment.
However, the complete exclusion of Angel Tax in the policy announcements clipped the wings of early-stage startups, most of which depend on capital from angel investors for the initial boost. Speaking about the venture capital firms and angel investment, Arun Jaitley said, “Venture capital funds and angel investors need an innovative and special developmental and regulatory regime for their growth.
Jaitley also highlighted the government’s initiatives and added the government will be taking extra measures to strengthen the environment for their growth and “successful operation” of alternative investment funds (AIF) in India. Cryptocurrencies, however, will not be one of those alternate means.
In the Budget, Jaitley clarified that although cryptocurrencies such as bitcoins are still illegal in India, the government would take a look at the blockchain technologies. Along with blockchain, the finance minister also singled out emerging technologies like artificial intelligence (AI,) internet of things (IoT) and 3D printing. For this purpose, policy think tank, NITI Aayog will be working on creating a national programme that will stoke research and result in applications in these areas.
The government raised the ceiling for the 25% corporate tax bracket up from Rs. 50 crores earlier to Rs. 250 crores annual turnover. Meanwhile, the announcement of connecting rural India with 5 lakh Wifi hotspots will facilitate the growth of a host of internet enabled services including ecommerce, online education, health tech and others.
In order to improve the women employment rate, the EPF and Miscellaneous provision act will also be amended to reduce women contribution to 8% for the first 3 years of their employment. This reform can help in bringing more women contribution to the formal sector and ensure better gender diversity in the business sector.
Pharmaceutical manufacturing and medical research startups will also get a boost with the Rs. 12,000 crores investment made to bring health closer to home.
However, multiple startup experts agree the Goods and Services Tax (GST) rates for startups need to be reduced and they should also be allowed to file tax returns on an annual basis. While the startup community has welcomed a majority of these reforms, they are also seeking for clarity for many of these proposals.
Speaking about the reforms and the budget in general, the Chief Executive Officer of Paytm Payments Bank said, “We welcome the budget initiatives for promoting financial inclusion through higher penetration of banking services, increased health insurance coverage under National Health Protection Scheme and easy access to credit. The increased outlay in infrastructure including wifi spots will extend benefits of the internet and technology-enabled services to masses. Additionally, development and digitization of agricultural markets will bring farmers into the formal economy. We look forward to leveraging these initiatives to provide digital payments, banking and other financial services to rural India.”

Continue Reading
Advertisement

Recent Posts