Is WhatsApp Payments right for you Small Business | Instamojo | Trend Adda

Instamojo, India’s Leading Payment Gateway today tweeted is WhatsApp Payments the right mode of payment for you small business? followed by a blog post link where they have helped users to know ‘4 BIG Reasons WhatsApp Payments Doesn’t Fit Your Business Needs…’

 

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First, Instamojo helps the viewers to understand How Does WhatsApp Payments Work? until it UPI Setup completion with iOS screenshots. Then instamojo shared ‘4 Reasons WhatsApp Payments Doesn’t Fit Your Business Needs’ :

  1. WhatsApp Payments is a Peer-to-peer (P2P) payments platform that doesn’t really work for a business. A business’ payment needs are different and diverse. Why would you limit payment options to just UPI?
  2. Only people in your contact-list can pay you. Also, they should have WhatsApp payments enabled, only then they will be able to pay you. How many customers will you keep adding to your contact list to be able to receive payments on the app?
  3. WhatsApp Payments is not a CRM. Sure! You’re getting paid! But what about an invoice? Sales reports? Data exports? None available yet.
  4. One Word. REFUNDS. Do we even need to talk about how businesses would tackle refunds/fraud claims?

Instamojo’s Take:

While WhatsApp Payments is a great way for more people to discover UPI, it doesn’t offer a great deal to a small business yet.

To understand what payment mode fits your small business best, take a look at this graphic:

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