Payments on WhatsApp: making conversational commerce a reality

Imagine chatting with your favorite retailer about the latest fashion trends and being able to purchase that perfect outfit right within the same conversation. Or managing your financial services without ever leaving your chat window. Payments on WhatsApp makes all this possible, and much more. It’s not just a feature; it’s a paradigm shift in the way we think about shopping and payments.

Convenience and speed are paramount for your customers making the fusion of messaging and commerce not just a trend but a significant shift in consumer behavior. That’s where Payments on WhatsApp comes in as a groundbreaking feature enhancing the way businesses and customers interact and transact.

This blog post delves into the world of Payments on WhatsApp and exploring its role in conversational commerce.

Payments on WhatsApp is a revolutionary feature that allows customers to conduct financial transactions directly within the WhatsApp Business Platform. It essentially transforms the popular messaging app into a comprehensive tool, not just for communication but also for seamless, secure financial transactions. Leveraging the ubiquity and simplicity of WhatsApp, this feature marks a significant leap in the field of digital payments.

Now, you may have heard about WhatsApp Pay, and though often used interchangeably with Payments on WhatsApp, they’re different.

Now, that we have understood the differences, it’s time to see how Payments on WhatsApp completes your businesses conversational experience journey with conversational commerce.

Your customers are looking for mobile-first conversational experiences, that conveniently take place within a single chat app. And preferably one that they’re comfortable using.

And as we mentioned in our previous blog post, conversational experience comprises of three major journeys:

Click-to-chat ads paired with a customer engagement solution, helps kickstart the conversational marketing journey within WhatsApp by initiating the conversation. With the integration of an intuitive chatbot paired with WhatsApp Flows, you can take your customers from marketing to acquisition. And then with the ability to transfer chatbot conversational to live agents, you’re providing a layer of conversational support. Now, with Payments on WhatsApp, you can close the entire loop with conversational commerce.

Payments on WhatsApp essentially elevates this concept by streamlining the transaction process. Customers can now engage in a smooth shopping experience without leaving their conversation, making purchases as natural as chatting with a friend.

A customer inquiring about a product can receive details, photos, and even personalized recommendations. With Payments on WhatsApp, they can make an instant purchase, enhancing the overall shopping experience.

Financial institutions can offer services like account balance inquiries, transaction history, and bill payments, with customers able to complete transactions within the chat.

Telcos can utilize the platform for service inquiries, plan upgrades, and bill payments, offering customers a convenient way to manage their accounts.

Tata AIA Life Insurance, a leading life insurance company in India, offering various types of life insurance policy have integrated Payments on WhatsApp and transformed their messaging into a one-stop-shop for their insurance policy. With WhatsApp powered by Infobip they saw a sales and revenue boost, and their customers got convenience at their fingertips.

“With time now being measured in a jiffy, and convenience being the most important parameter across all digital platforms, Payments on WhatsApp, with minimal processing steps, and upfront confirmation of policy payments, was much needed to boost consumer confidence and satisfaction. Prior to the Payment on WhatsApp service, consumers would need to go through several steps including, log in to a mobile app, authentication process, and payment gateway processing, while with payments on WhatsApp, these steps are eliminated. In the first three months of the launch of this service, approximately 3000 customers successfully paid around Rs. 40 million for renewal. Our tech partner Infobip provided incredible support in integrating payments on WhatsApp Pay into the TATA AIA Life Insurance payment system. It’s been a resounding success, and our consumers couldn’t be any happier. Team dedication and expertise made this integration a breeze. The impact on our operations and customer satisfaction has been remarkable – the convenience and security of payments on WhatsApp have won over our customers, leading to increased sales and loyalty.” 

Sanjay Arora, Executive Vice President & Head of Operations, Tata AIA Life Insurance 

Yes, Payments on WhatsApp makes conversational commerce a reality, but what are the tangible benefits?

Currently Payments on WhatsApp is only available in India and Brazil.

But as a business, it should be a part of your roadmap if you’re not in India or Brazil. And if you are, Payments on WhatsApp is not just a feature; it’s a transformative tool reshaping the landscape of digital commerce.

By integrating conversational commerce with secure and efficient payment solutions, WhatsApp powered by Infobip is paving the way for businesses to offer unparalleled customer experiences. As we venture further into this digital era, embracing innovations like Payments on WhatsApp will be crucial for businesses aiming to thrive in an increasingly competitive market.

To get started with Payments on WhatsApp you would need a verified business account and need to ensure adherence to local regulatory requirements.

However, there is an easier way to get up and running. Imagine having one conversational experience platform that takes care of implementation, development, linking trusted payment providers, testing, and maintenance, compliance, and the entire customer journey?

That’s where our CX consultancy team and conversational experience experts come in. Together, we can help you explore how WhatsApp Business Platform can benefit your business, connect with our experts to discuss tailored strategies for achieving your goals.