Whatsapp Could Be The Future of Bitcoin Remittances

An Indian FinTech and E-Commerce giant, Freecharge is partnered with Whatsapp to provide instant payment services to the Indian users. As a matter of fact, Whatsapp is widely popular in India and this chat application is being used in India more than any other country. That’s the reason why Freecharge chose this famous Chat Service provider for rendering instant payment services. The FinTech industry is growing at an incredible pace in India but a majority of Indian citizens are still using cash for all the major exchanges. In this scenario, there’s no doubt that Whatsapp payment service will prove to be a major breakthrough not only in India but throughout the world. For all one knows, Whatsapp owns an immense potential to emerge as an effective payment alternative and its gigantic user base all over the world is yet another plus point.

Whatsapp Payment Service

On 20th May 2016, Freecharge announced its plans of introducing instant payment functionality to this famous messaging app. With this amazing feature, the Whatsapp users in India will be able transfer money to the person they’re chatting with at a particular time. Besides, sending money through Whatsapp is easier than ever! All you need to do is enter the amount that you want to transfer followed by the keyword, “FC.” For instance, if you want to transfer INR 500 to a person via Whatsapp, you need to type “500FC” and it’ll automatically transfer this amount to that person.

Whatsapp Is Perfect For Bitcoin Remittances

The emergence of Whatsapp payment services has sparked the rumors that bitcoin might soon be integrated to the Whatsapp payment gateway. Although, there is no plan for the bitcoin adoption just yet, but if it succeeds in stretching the scope of digital remittances in a developing country like India, then it is very much possible to see the bitcoin integration in coming years. There’s no doubt that Whatsapp can prove to be a game changer for Bitcoin remittances. It is by far, the world’s most popular messaging application which not only allows its users to chat and share media but also provides free calling facilities regardless of any geographical boundaries. That’s the reason why it has been successful in attracting millions of people in such a short time span.

Another reason why Whatsapp is fit for remittances is that it doesn’t access any sensitive user information. It means you don’t need to enter user ids and passwords thereby making the process swift, smooth and easy. In addition to that, Whatsapp now uses high-end encryption for all the messages and conversations which means all your chats are kept private and secure. And last but not the least, Whatsapp is absolutely free to use and there will be no transaction charges for payments as well. This is another factor that puts it ahead of many financial institutions that charge high rates of transaction fee for processing each and every transaction. So clearly, Whatsapp is perfect for bitcoin remittances and it can be a one-stop solution for all kinds of digital transactions.