Facebook-owned WhatsApp, which is the most popular messaging platform, said on Wednesday that the new payments feature WhatsApp Pay is now live. The payments function is supported by State Bank of India, HDFC Bank, ICICI Bank and Axis Bank through UPI for up to 20 million users in India.

The rollout of the feature could pose a huge challenge to other big players like Paytm, Google Pay, and PhonePe.

WhatsApp's payment service, which allows users to transfer money in a similar way to sending messages, is now available in 10 regional Indian languages for WhatsApp.

The peer-to-peer (P2P) payment feature is designed with a strong set of security and privacy principles, including entering a personal UPI PIN for each payment, the company said. 

To send and receive money through WhatsApp Pay, users will first need to use the latest version of WhatsApp and link their WhatsApp bank accounts. Users will also need to check the last 6 digits of their debit card and the expiration date.

Here's how to add your bank account on WhatsApp using Android:

Step 1: WhatsApp on your Android device and  tap 'More options'(three dots)

Step 2: Select "Settings", click "Payments" and then "Add a New Account"

Step 3: Tap 'Accept and Continue' in WhatsApp Payments Terms and Privacy Policy

Step 4: Choose your bank name from the list of banks

Step 5: 'Allow' verify via SMS

Step 6: Select your bank account to send and receive payments via WhatsApp and click "Done".

Steps to add a WhatsApp bank account using iPhone:

Step 1: Open WhatsApp on your iPhone and tap on Settings and payments and add a new account.

Step 2: Click "Accept and Continue" in WhatsApp's Payment Terms and Privacy Policy

Step 3: Choose your bank name from the list of banks

Step 4: Allow SMS verification

Step 6: A pre-filled SMS verification code will open on your phone. Tap send to send this message and verify your account.

Step 7: Choose the bank account you want to add to send and receive payments via WhatsApp and click on Done.

The company received approval from the National Payments Corporation of India (NPCI) in November after two years of waiting. WhatsApp payments aim to contribute to the growth of digital transactions in the country in line with the government's vision.

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