Over 50 million businesses have downloaded WhatsApp Business App!! Over 2.3 billion users actively use WhatsApp in their day-to-day functions.
WhatsApp has been the go-to platform for users across 190+ countries for over a decade.
Its popularity across the masses has made it a powerful source for businesses to connect with potential customers.
To help businesses drive the full potential of this platform, WhatsApp launched WhatsApp Payments, a feature that allows businesses to collect payments directly within WhatsApp.
Businesses no more need to send users to payment pages which reduces the payment collection rates. They can send broadcasts, showcase catalogues and drive payments within WhatsApp itself.
In this blog, we'll discuss the benefits WhatsApp Payments brings to the table for businesses, its potential use cases, and of course, how AiSensy can help you integrate WhatsApp Payments for your business.
Table of Content
WhatsApp Payments AiSensy Exclusive Features
WhatsApp Payments Case Studies
How to collect payments on WhatsApp
What is WhatsApp Payments - A brief intro
What is WhatsApp Payments - A brief intro
Earlier, businesses sent payment links on WhatsApp which redirected to a payment page from where they completed the payment. However, this process has a high dropoff rate, because the platform is switching from WhatsApp to another app, involving higher loading times and many more reasons.
That's why, to simplify the payment collection process, WhatsApp launched WhatsApp Payments.
WhatsApp Payments is a feature allowing businesses to collect payments directly within WhatsApp through UPI (Gpay, Paytm, Phonepe), Cards (debit/ credit cards) and Net Banking. WhatsApp Payments enables businesses to provide an end-to-end shopping experience right on WhatsApp.
Imagine this: A user lands on your WhatsApp, scrolls through your products & services via Catalogues, adds the one they wish to purchase in their cart, and the last step - makes the payment directly within WhatsApp.
That's what WhatsApp Payments enables - An end-to-end Shopping experience right within WhatsApp.
Wish to experience this game-changing feature right now? Send "Try WhatsApp Payments" to this number to experience WhatsApp Payments +918297845603 (powered by AiSensy)
Experienced WhatsApp Payments? Let's dive into the benefits this awesome feature brings to the table.
Benefits of collecting payments on WhatsApp
1. Streamlined Process: With WhatsApp Payments, businesses can send payment requests and reminders directly in chat. This eliminates the need for customers to leave the platform or download an additional app to complete the transaction, ultimately reducing the drop-offs and increasing payment collection by 27%.
2. Increased Trust: WhatsApp is already a trusted platform for millions. Accepting payments here enhances brand trustworthiness as customers can make transactions in a familiar environment.
3. Enhanced Security: Leveraging UPI's robust security features, WhatsApp Payments ensures that all transactions are encrypted and secure.
4. Instant Notifications: Businesses receive immediate confirmation once a payment is made, allowing for efficient record-keeping and order processing.
5. Global Reach: With billions of WhatsApp users worldwide, businesses can tap into a vast customer base, making it easier to expand their operations globally.
6. Reduced Transaction Costs: By eliminating the need for third-party payment gateways, businesses can potentially save on transaction fees.
7. Seamless Integration with Marketing: With AiSensy, businesses can send promotional offers and collect payments immediately, all within the same conversation.
Use Cases of WhatsApp Payments for Businesses
- E-commerce: Businesses can enable users to add products to their cart & make the payment right within WhatsApp, streamlining the checkout process.
- Fintech: Businesses can automate payments for services and accounts associated with them
- Online Classes & Workshops: Tutors and trainers can instantly collect course fees using WhatsApp Payments.
- Freelancers & Consultants: Professionals can request payments for their services right after a consultation or project completion.
- Restaurants & Takeaways: Customers can pay for their orders directly through WhatsApp, making the ordering process smoother.
- Event Organizers: Organizers of events can easily collect payments for event tickets or reservations.
- Subscription Services: Businesses can send recurring payment reminders & collect payments on WhatsApp, ensuring 3x more timely payments from subscribers.
- Donations: NGOs and charitable organizations can collect donations seamlessly within WhatsApp via WhatsApp Payments
WhatsApp Payment Features (AiSensy Exclusive)
1. Send Payment messages via Live Chat & Chatbot Flows
Not only can you broadcast payment messages to all users, but you can also shoot payment messages to individual users directly from Live chat & chatbot flows.
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2. Track Payment Status in Campaigns & Retarget Effortlessly
You can easily monitor pending & successful payments in a campaign and further send retargeting campaigns to users who failed to complete the payment.
Using this feature has helped our clients collect 23% more payments and reduce dropoffs by 35%.
Tip: Focus on your communication. Try creating FOMO to convince the user to complete the purchase.
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3. Verify Payment status from User Profile
You can easily verify the payment status of customers individually from the payments section under the user profile of a customer.
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4. View All Payments Received in One Unified Dashboard
Monitor the status of all payments that are received/ pending under one single unified dashboard.
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How AiSensy businesses are using WhatsApp Payments to collect payments on WhatsApp
Check out how businesses using AiSensy have already enabled WhatsApp pay for their businesses.
1. Delhi Transport Corporation (DTC)
2. E-mudhra
E-mudhra, a licensed certifying authority issuing Digital Signature Certificates (DSCs) uses the WhatsApp Pay feature to enable users to purchase DSC directly on WhatsApp.
3. HRX by EatFit
HRX by EatFit runs Click-to-WhatsApp Ads via AiSensy. When a user clicks the ad, they land on WhatsApp, add preferred items to their cart and proceed to checkout. With WhatsApp Payments enabled, the user completes the payment right within WhatsApp, completely hassle-free.
How to Enable WhatsApp Payments for Your Business with AiSensy
To enable WhatsApp Payments with AiSensy, you must be signed up with AiSensy, and have your WhatsApp Business API Live and Facebook Business Manager account verified.
If you're not yet using AiSensy, sign up now
Once you've set up your WhatsApp Business API account, and the approval part is done, follow the steps mentioned below👇
Note: You must be using either the Razorpay or PayU payment gateway to collect payments if you wish to connect WhatsApp Payments to your system via AiSensy.
1. Go to WhatsApp Payments & tap on "Accept Pricing & get started"
AiSensy offers a Zero setup fee for WhatsApp Payments! However, there are fixed charges for each payment you collect via WhatsApp payments using AiSensy.
You can checkout the platform fee per transaction cost in the below screenshot.
Once you've checked out the transaction fee, accept the pricing to get started.
2. Now, under settings tap 'Add Payment Method'
3. On the next screen, click 'New Configuration'
4. Tap 'Get Started'
5. Choose your current payment gateway you wish to connect with AiSensy and press Next
This will be the payment gateway used to collect payments from customers on WhatsApp.
Currently, we offer WhatsApp Payments integration with Razorpay and PayU payment gateways.
Integrations with other payment gateways will go live soon.⚡
6. Give your WhatsApp Payment Integration a unique name and select the Merchant Category code (MCC)
You can enter any name you want under Payment Configuration name.
Next, you need to add your Merchant Category Code (MCC) & Purpose Code which you can get from your payment gateway.
After adding the required information, click Next.
For reference, view the below screenshot.
Note: Kindly add the Merchant category code that suits your business. Don't fill the same code mentioned in the below screenshot. It's just for your reference.\
7. Add your Meta account password and click confirm
8. Tap Connect Now and click Next
Clicking next will take you to Razorpay.
9. Tap authorize to connect Razorpay as your payment gateway for WhatsApp Payment integration
In case you've selected PayU as your payment gateway, the steps and process will stay the same.
10. After authorizing your payment gateway, copy the Payment Configuration name from your Facebook account
11. Come back to AiSensy Dashboard, enter the Payment Configuration ID and press Save
12. Next, select the payment gateway you wish to connect with AiSensy
13. Last up, tap 'Create Order message' to create payment messages that will be used to collect payments directly on WhatsApp
14. Setup the Payment template message
Follow the same steps you do while creating a WhatsApp template message. Add the Template name, choose your product type, template body.
Now, add the tax rate that you wish to charge the user. You can select whether the price of your product is tax-inclusive or tax-exclusive.
If you choose tax inclusive, tax won't be charged while if you choose tax exclusive here, tax will be charged from the user.
You can also add the expiry duration of your payment link (in seconds). If you add 300 here, your payment link will expire after 5 minutes.
15. Add Tax information
In case you wish to levy tax on your products, add the tax rate, tax description (GST or other taxes), shipping charges (in Rupees) & the discount amount (fixed or in percentage).
Verify your message & press Submit.
That's it! Your WhatsApp Payments configuration is now successful.
Start collecting payments directly within WhatsApp now with AiSensy
FAQs
Yes, businesses can now collect payments from customers directly within WhatsApp via WhatsApp Payments. This feature should not be confused with the WhatsApp Payments feature available on mobile app. It’s a feature tailored for businesses and is available only for businesses using WhatsApp Business API.
As of 2024, only businesses in Brazil, India, and Singapore can collect payments directly within WhatsApp using WhatsApp Payments.
Yes, all payments collected within WhatsApp have end-to-end encryption enabled, pin protection as well as offer 2-factor authentication to prevent fraud transactions. It’s 100% secure!
Businesses can collect payments within WhatsApp via UPI, net banking and all types of credit and debit cards.
Before you leave
For businesses, WhatsApp payments presents a golden opportunity to streamline operations, enhance customer experience, and drive growth. And with AiSensy, the journey becomes even more rewarding.
WhatsApp Payments is one of the best ways for businesses to drive end-to-end customer journey in one single platform.
Signup Now to AiSensy if you too wish to use WhatsApp Payments for your business.
