In today's time, Payment collection in cash is becoming a hassle. Now, many alternative payment methods are there in the market for online purchases as well as regular purchases. Online payment options are there and growing day by day. These payment methods are very popular and suitable for small and medium businesses. WhatsApp Pay is the right option to pay today.  

Even customers want easy, secure, and quick payment methods. The market trends are changing regularly. Now, in every corner of the world people prefer digital payments. But buying habits are changing. The entire WhatsApp Commerce has redefined online business. 

Everyone will prefer to pay from the most active platform. It is the most convenient way to pay faster.   

Meta has made this a reality in a country with a remarkable user base of WhatsApp for day-to-day communication. This decision has been followed by many financial institutions like banks in India. It will be approved with UPI as well in 2024. WhatsApp Payment is approved in India.   

In this blog article, we outline the entire WhatsApp Pay story, understanding the basics to make it a regular payment cycle on a larger base.  

Now let's throw some light on WhatsApp Pay and its working cycle.  

WhatsApp Pay: Way of Working 

First, let's discuss the Native payment cycle. In this payment system, businesses receive money from their customers via WhatsApp. This happens with the help of the Unified Payments Interface (UPI) and payment gateways, which ensure smooth money transfers. This is an in-app system.  

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Suitable Industry for WhatsApp Pay  

E-commerce is the most suitable industry for WhatsApp. You can create your product catalog for various products and items. They can be displayed on the WhatsApp business profile.  

Customers can browse the product catalog, select their desired item, collect it in their cart, and pay the same with WhatsApp Pay– WhatsApp instant payment-making feature.  

WhatsApp chatbot takes care of the payment of the customer, as it gets auto-triggered. This eliminates the need for a common payment link etc.  

Businesses based on services can list their services in the catalog of the WhatsApp business profile. These businesses include travel agencies to Edutech startups.   

By referring to the services, customers choose their required one and pay for the same with WhatsApp Pay. Again, the bot is activated to carry out the payment process smoothly and rapidly.  

Types of WhatsApp Payments 

WhatsApp Payments are divided into 2 major types. WhatsApp Pay could come down to two types: Native WhatsApp Payments that is UPI, and Payment Gateways.  

WhatsApp UPI  

WhatsApp UPI is a real-time money transfer system that permits transactions between any two Indian bank accounts. Its major merit is its instant nature, which speeds up the payment process. UPI has limits on international transactions, Card use, and online payment use.  

You may use it with a WhatsApp Business Profile or even with WhatsApp Business API.  

Payment Gateways  

The alternative method is using a payment gateway like Razorpay or PayU to collect or receive payments. 

This can be enabled through WhatsApp Automation Platforms like WebMaxy which authorizes payment processing for service-based businesses and online retailers. It is simple and convenient; it may have additional service charges applied by the gateway provider. WhatsApp payment processing problem are minimal.  

Let us refer to a table that offers pros and cons of each method in a detailed way.‌  

Pros   

WhatsApp UPI 

Payment Gateway 

Convenient registration process, linked directly to the business bank account through UPI 

Provides an extra layer of security, reducing any chance of fraud 

Money is transferred instantly to the merchant's bank account 

Supports multiple payment methods including credit/debit card, net banking, UPI, and international payments 

No processing fee is charged by WhatsApp 

Allows for integrated tax calculation and invoicing 

— 

Provides customers EMI or pay later options, if the gateway has a partnership with a bank or NBFC 

Cons 

WhatsApp UPI 

Payment Gateway 

Limited to Indian users with UPI-supported banks 

Facilitated only through WhatsApp Automation Tools 

Difficulty troubleshooting if payment fails 

Setup may require technical knowledge or assistance 

Difficulty accepting payments from international clients 

Payment gateways usually charge fees per transaction 

How to Collect / Receive Payments on WhatsApp?  

To get full use of these features, getting your business set up with Native WhatsApp Payments is key. Here's the point-wise process of activating WhatsApp Payments for your business profile.  

  1. Setting Up WhatsApp UPI

To initialize accepting payments through WhatsApp UPI, you need a WhatsApp business account, provide your bank support UPI, and verify your account. Once having it all, transactions can be started and received in a hassle-free manner.  

Enabling WhatsApp UPI payments and sharing unique payment links on a platform like WebMaxy is pretty easy. Our help document will give you an idea of how it works.  

  1. Connecting Payment Gateways

If you're an Indian business using WebMaxy with Indian phone numbers, you can access WebMaxy‘s exclusive list of native payment gateway integrations.  

And while you're at it, read through WhatsApp Business Compliance for India carefully, it strongly holds control of your WhatsApp Business transactions.  

WebMaxy WhatsApp commerce offers a smooth integration with a wide range of third-party payment processors like Razorpay, PayU, and more for WhatsApp payment in India.  

If you already have an account with such providers, our team can easily link your account with your WhatsApp. It will have a way for quick and efficient payment collection. To activate this feature on your account, just connect soon to our customer success team who'd be happy to serve you.  

WhatsApp Pay Alternatives for Businesses  

WhatsApp Pay offers a tough and convenient payment solution for businesses. It is limited to certain countries. Hence, assume these alternative options are worth exploring based on specific requirements and resources.  

Option 1: Use WhatsApp Pay API  

For businesses with coding knowledge and developer resources, integrating WhatsApp Pay API can provide a more specific and customized payment solution. The WhatsApp Pay API permits businesses to build their payment flow, giving greater control and flexibility.   

By leveraging the WhatsApp Pay API, businesses can design a payment experience that suits their specific requirements and branding. They can create a smooth and cohesive payment flow that integrates seamlessly within the chat interface, convenient for customers to complete transactions without giving up the conversation.   

For businesses seeking to manage invoices, align approvals, and ensure secure payments, online invoice approval software with WhatsApp Pay integration is an excellent option. This software automates invoice workflows, gives secure approvals with digital signatures, and permits transactions to be completed directly within the WhatsApp chat interface.   

With the WhatsApp Pay API, businesses can deploy features such as personalized payment notification alerts, real-time transaction updates, and customized payment options. This level of customization allows businesses to upgrade the user experience and develop trust with their customers.  

WebMaxy integrates your WhatsApp business account and provides services for WhatsApp business API.  

Option 2: Find a third-party platform  

WebMaxy is a wonderful example of a third-party platform that offers WhatsApp payment solutions. It comes with in-chat payment links and omnichannel payment solutions.   

These are some of the best features that you can experience with third-party platform's payment links:  

  1. Create payment links that can be shared with customers through WhatsApp chats.
  2. Direct customers to a secure payment page where they can conveniently finish their transactions.
  3. Tailor payment links with order details, pricing, and special instructions to offer a personalized payment experience.
  4. Provide regular payment experience across various messaging platforms such as Facebook Messenger, WeChat, or LINE. That allows customers more flexibility in selecting their preferred messaging app for payments.

Third-party platforms can be the perfect choice for businesses looking for a ready-to-use payment interface. They require minimal setup and technical expertise.   

These platforms offer comprehensive payment solutions that can be smoothly integrated with WhatsApp and other messaging apps that are easy to set up, saving time and effort in building a payment system from scratch and offering user-friendly interfaces and documentation.  

Facilitating a Comfortable Shopping Experience on WhatsApp  

Native WhatsApp Payments could not just offer a rise to payment cycles but also upscale your customer interactions and overall business profits. Payments will become easy and efficient – growth will be accelerated.  

WhatsApp Payments prepare Indian businesses for the future, one transaction at a time.  

Also, selling on WhatsApp is possible in collaboration with WhatsApp selling groups.  

WebMaxy is pleased to play a small yet substantial role in enabling it.   

If you're curious about how can WebMaxy help scale your business, connect with us to arrange a demo for you.  

You can send a query via email to: info@webmaxy.co. 

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Frequently Asked Questions 

  1. What is WhatsApp Pay? Can you pay through WhatsApp?  

WhatsApp Pay is a convenient payment service integrated into WhatsApp, permitting businesses to accept payments without browsing external websites or separate gateways. Transactions can be started and completed directly within the chat window, making the payment process smooth and efficient.                                                                               

  1. Is WhatsApp Pay now available in the United States?   

This feature is currently available in the US.  

  1. How to pay through WhatsApp?

Users can send money directly through chat by clicking on the share file icon and selecting 'payment'. The 'payment' section is available on the shortcut menu. Users can confirm their transaction history and account details in that section.