WhatsApp Pay spotted beta testing cashback feature in India
What's the story
Reputed WhatsApp feature tracking website WABetaInfo has reportedly spotted an in-development feature that would incentivize WhatsApp Pay users with benefits in the form of cashback in India. It appears that WhatsApp is finally learning the secret to lure devout users towards its payment platform. The new cashback feature is still in development but could roll out for users soon. Here are more details.
48-hour delay
Cashback feature seen in Google Play Beta Program
The new cashback feature for WhatsApp Pay was seen on a new update bearing version number 2.21.20.3 for Android submitted via the Google Play Beta Program. The new feature delivers cashback to WhatsApp Pay users 48 hours after transactions are processed. Since the feature is presently under development, nobody can receive actual cashback from WhatsApp.
Incentive
WhatsApp is introducing cashback feature to encourage users
WABetaInfo noted that the Facebook-owned messaging service is introducing the new Cashback feature to encourage its users to send and receive money on WhatsApp Pay. For now, it remains unclear if existing users will receive cashback or only those who have never used WhatsApp Pay before. WhatsApp is expected to clarify this when the feature is released for the masses.
Limitations
Feature could be limited to UPI payments in India
The feature appears to be limited exclusively to UPI payments in India. You can reportedly get only one cashback for now. Additionally, the maximum cashback value on WhatsApp Pay has been capped at Rs. 10 for payments on the app. This may change before the feature's official release. Despite WhatsApp's popularity as a messaging service in India, it hasn't succeeded as a payments solution.
Dismal performance
NPCI stats suggest WhatsApp Pay performance isn't exemplary
WhatsApp Pay lags way behind India's top-performing UPI apps, including PhonePe and Google Pay, in terms of transaction volume and value. The most recent metrics from the National Payments Corporation of India (NPCI) show that in August, WhatsApp Pay processed only 0.50 million transactions compared to PhonePe and Google Pay's 1,622.95 million and 1,243.75 million transactions, respectively.