According to the messaging app, this requirement has been set by NPCI and is designed to reduce fraud in the UPI payment system.
HIGHLIGHTS
- WhatsApp has notified users that it will start displaying the legal name of users every time they make a payment using WhatsApp Payments.
- The legal name will be the same as the bank account name of the users.
- This requirement is set by NPCI and designed to mitigate fraud across the UPI payments system.
WhatsApp has informed users that it will start displaying users’ legal names every time they make a payment using WhatsApp Payments. By legal name, WhatsApp means the same name as your bank account. According to the messaging app, this requirement has been set by NPCI and is designed to reduce fraud in the UPI payment system. This is because people sometimes use different names or aliases on their UPI platform, but with the latest change, WhatsApp aims to stop fraudulent practices from happening on the UPI platform.
Through UPI, WhatsApp uses the phone number associated with your account to identify your bank account. The name associated with your bank account is the name that will be shared,” the company said in an FAQ. Your legal name, which is the same as your bank account, will be visible to the person to whom you send or receive money on WhatsApp’s UPI-based platform. WhatsApp has started showing notifications about changes to its payment platform. The notification contains a link to WhatsApp’s FAQ page that details the legal name requirement and exactly what it is.
WhatsApp has announced that it will use the phone numbers associated with users’ WhatsApp accounts to identify their bank account numbers. The name used in the bank account will be shared with the people involved in the WhatsApp transaction. “When you use payments on WhatsApp, other UPI users will be able to see your legal name. This is the same name as your bank account,” the FAQ page reads.
WhatsApp lets users choose any name for their profile. It should not be his official name. Users can also use their nickname or add emoji next to their name on WhatsApp. But things will never be the same again. While users have not been asked to change their profile name, WhatsApp’s payment service will only display the name as per their bank accounts when they opt-in for the WhatsApp payment facility.
As far as payment services are concerned, WhatsApp recently received approval from the National Payments Corporation of India (NPCI) to expand its WhatsApp Pay payment service to 40 million users in India. In case you don’t already know, WhatsApp Pay is a payment feature available within the app. It is based on the Unified Payments Interface (UPI) platform.
