With over 1.5 billion active monthly users worldwide, WhatsApp does not need an introduction, so let’s dive right into the main topic: WhatsApp Pay.
WhatsApp Pay is their newest feature, allowing users to send and receive money through the app, just as you would send or receive normal instant messages.
This feature will become available in Kuwait soon, and will change the game for small and medium-sized businesses.
How does it work?
The payment system works on a Unified Payments Interface (UPI), where fund transfers can be initiated without having to provide your bank account details.
The UPI payment system allows you to link more than one bank account to your phone, and make fund transfers instantly. Funds will be credited immediately to your recipient’s digital wallet in real-time, and vise-versa.
To carry out transactions, you will have to use a virtual address, known as a Virtual Payment Address (VPA).
Digital Payment Solutions in Kuwait
Banks in Kuwait have made digital payments easy by introducing “QuickPay”.
Users are able to send payment links from the Bank’s App directly to their contacts via text message, email, and even through WhatsAp, without having to ask recipients for their bank details.
Although QuickPay is a convenient alternative to wire transfers, users still have to go through multiple steps in order to complete one transaction.
Once WhatsApp Pay becomes available in Kuwait, users will be able to send and receive instant payments with literally just one click!
When will it become available in Kuwait?
We are still not sure when this feature will be available in Kuwait, but in the meantime, Bowaba Digital Marketing Agency can help you set up WhatsApp Business API, another great business solution on the same platform. Click here to learn more about WhatsApp Business API and how it could benefit your business, or give us a call on 66605095