WHATSAPP PAY

Submitted by: ARUSHI

 CONTENT TABLE

 Stakeholders
 Risk Identification
 SWOT Analysis of WhatsApp pay
 Strengths:
 Weakness:
 Opportunity:
 Threat:
 Proposed System
 SCOPE using Use Case Diagram (UML)
 In Scope
 Out of Scope
 Business Requirements:
 Business Objective:
 Functional Requirements
 Non Functional Requirements
 System Requirement:
 Usability:
 Screen Wireframes
STAKEHOLDERS:

ACTOR What he can do on the Software Created

WhatsApp  WhatsApp users can pay digitally to other person
users  Saves time of WhatsApp users for quick payments
 WhatsApp users can request funds from other eligible
persons from their contact list
 WhatsApp users need not go to the bank or use wallets,
bank apps, or NEFT to transfer money.

Banks  Banks will Authorise the payment done by WhatsApp users

 Banks will check the proper fund transfer to the beneficiary
 Banks will help in Real time settlement of transaction
 Banks will help in linking of customer Debit card and Credit
card to WhatsApp
 Banks will give OTP or Pin number to the customer for safe
transaction
Credit card  Will issue credit card to the WhatsApp user so that they can
providers link it to WhatsApp
 Will give limit to the customer for amount transfer
 Will check the genuine and credibility of the transfer
 Will approve the transfer requests sent by WhatsApp users
through credit card
 Will authorise the linkage of credit card to the WhatsApp
Application

Bank (debit  Will issue Debit card to the WhatsApp user so that they can
card link it to WhatsApp
provider)  Will check the genuine and credibility of the transfer
 Will approve the transfer requests sent by WhatsApp users
through debit card
 Will authorise the linkage of debit card to the WhatsApp
Application
 Will send the Pin and OTP for the transaction to secure the
transaction
 Will ensure the quick transfer of funds from the debit card to
the beneficiary account
There has been an immense surge in the number of digital payments that are being made
across the country. Now, with WhatsApp also becoming a part of the digital ecosystem, there
are many questions that are being asked by the various other players in the market as far as the
scope of digital payments are concerned.

The aggregate value of the transactions in the digital scheme of things stands at a lucrative
Rs.3,37, 267 crores this year. This number is also continuously increasing at the rate of 17.4%
CAGR. Popular messaging applications such as WhatsApp have the scope to change the
landscape as far as digital payments are concerned by cashing in on the extensive customer
base of around 230 million in the country. The already existing news may have a scope to
further explore the platform and be more mentally prepared to a wide number of innovations
in this front. The adoption rate as far as WhatsApp payments are concerned could be definitely
high. In order to make payments through WhatsApp you will have to have an active UPI
account. Money can be both sent and received using this service without having to provide the
bank account number or IFSC code. All you need is a Virtual Payment Address (VPA).

Risk Identification:

 It could be infected with malware or the banker's systems are compromised either
because of technical issues or insider fraud
 WhatsApp allocates a UPI ID to its customer. This does not have any KYC
 Slow Network for transfer of money
 WhatsApp is not licensed to undertake UPI transactions directly; it engages the services
of its partner banks to initiate the transaction
 UPI is linked directly to the bank account and exposes the entire bank balance to the risk
of fraud
 All UPIs operate under a four number PIN, which is one of the lowest levels of security
that can be thought of. This is not a digital signature nor is it a complex password and
hence, it is liable for an easy brute force attack.
 WhatsApp itself can be hacked with a WhatsApp spyware.
 Credit card declined or not accepted by the WhatsApp
 Issue in Third party authentication or wrong pin, OTP for fund transfer

SWOT Analysis of WhatsApp:

 
A SWOT analysis determines a company’s strengths, weaknesses, opportunities, and threats in
comparison to its competitors.
It’s an excellent tool for determining where the firm thrives and where it falters, designing
countermeasures, and determining how the organization may expand. So, let’s look at
WhatsApp’s SWOT analysis.
 
Strengths of WhatsApp:
 
Strengths are an organization’s distinguishing qualities that provide it with a competitive
advantage in acquiring more market share, attracting more customers, and maximizing
profitability. Some of WhatsApp’s strengths are as follows:

Use of superior technology: 

One of WhatsApp’s biggest strengths is its use of superior technology, as such platforms are
completely reliant on the technology they use. There have been no major outages in the recent
past, and WhatsApp has the best connectivity.

Early mover advantage: 

Because WhatsApp was one of the first to enter the instant messaging market, it has an early
mover advantage with a loyal base.

Huge customer base: 

In the social media business, the number of users on a platform is everything, and WhatsApp
has already amassed a massive user base of over 2 billion users.

No major bugs in the application:

There have been no reports of serious bugs or technological failures in the application. Users
demand and are getting a problem-free program for everyday use.

Supports all platforms:

The app is available on all platforms, including iOS, Windows, and Android, making it accessible
to everyone.
 
Weaknesses of WhatsApp:
 
A company’s or brand’s weaknesses are elements that need to be improved. So let’s take a look
at some of WhatsApp’s biggest flaws:

Data privacy remains a concern for users: 

Data privacy is regarded as an ongoing concern for users. The company has yet to provide a
complete solution to this problem.
Cannot function without internet: 
Because the internet is required for the app to function, a large portion of the population that
does not have access to the internet is still unable to be targeted.
 
Opportuniti es for WhatsApp:
 
Opportunities are places where a company might concentrate its efforts in order to enhance
results, sales, and, eventually, profit. So, let’s have a look at what type of opportunities
WhatsApp has to produce outstanding achievements.

Continuous technology development: 

Technology is being developed every day with new customer requirements and a company such
as WhatsApp has the opportunity to develop and sell the products which this new customer
generation aspires to.

The Huge customer database can open up new revenue streams:

WhatsApp can provide an enormous opportunity for customer data to explore new revenue
streams using this information.

Increasing Internet penetration in developing economies: 

Even in developing countries, increasing internet penetration is a great way for WhatsApp to
reach a number of users.

Smartphone Adoption:
 The main advantage of WhatsApp is the global penetration and adoption of smartphones. This
penetration has naturally aided the world’s leading instant messaging app.
 
Threats to WhatsApp:
 
Threats are environmental factors that can inhibit a company’s expansion. The following are
some of WhatsApp’s threats:

Constant innovation in a competitive market:

The Internet is a wonderful tool; where new innovative ideas are generated on a daily basis.
You never know which idea will destroy WhatsApp in which part of the world.

Low barriers to entry for new entrants: 

Anyone can come and make a wonderful product like WhatsApp because it’s not a heavy
investment service. The barriers are minimal, making it relatively simple for other players to
join in on the game.
Changes in regulations to address any negative effects of WhatsApp
communication: 
Every new technology has flaws, and you never know when someone will use a technology
maliciously. This is always a threat until everything is fully proven.
Now that we’ve thoroughly explored WhatsApp’s SWOT Analysis, let’s wrap up the case study
in the section below.

PROPOSED SYSTEM:
WhatsApp has added a new feature that allows users to add payment background when sending
money. With the new feature, WhatsApp users will be able to choose from a range of artful
expressions created by WhatsApp to complement payments on occasions like birthdays, holidays,
or for gifts and travel.
“The core idea of this feature update is to create a more personalized experience for the sender as
well as the receiver by adding an element of expression when friends and family exchange
money,” WhatsApp says.
WhatsApp Payments is live for all users in the country. Developed in partnership with the National
Payments Corporation of India (NPCI), it offers a real-time payment system with over 227 banks.

 Facebook is rolling out its WhatsApp payment service for users in India after receiving
approval from the country’s regulators
 WhatsApp’s payment system will use India’s national payments infrastructure, known as
the Unified Payments Interface or UPI.
 User Friendly interface so that customer can easily transfer funds from own account to
other
 Fast transfer of money from credit or debit card to the beneficiary through UPI
 Payment must be safe and secure, fraud or error should not be there
 Credit and Debit card should be added in WhatsApp payment gateway easily without any
much hindrances
 UPI Payment done through WhatsApp must be fast, secure and safe.
 Adding of beneficiary contact and identification of account should be fast and easy.
 End to End encryption must be there so that customer privacy and data leakage not be
there
 Network must be good and data transfer should be fast, easy and secure
SCOPE using Use Case Diagram (UML):

IN SCOPE:

User Registration: User must be able to register for the application through a valid phone
number. On installing the application, user must be prompted to register their phone number.
If user skips this step, application should close. The user’s phone number will be the unique
identifier of his/her account on WhatsApp.

Adding New Contacts: The application should detect all contacts from the user’s phone
book. If any of the contacts have user accounts with WhatsApp, those contacts must
automatically be added to the user’s contact list on WhatsApp. If any of the contacts have not
yet registered on WhatsApp, user should be provided with an invite option that sends those
contacts a regular text message asking them to join WhatsApp along with a link to the
WhatsApp application on Google Play store.

Send Message: User should be able to send instant message to any contact on his/her
WhatsApp contact list. User should be notified when message is successfully delivered to the
recipient by displaying a tick sign next to the message sent.
Send Attachments: User should be able to send audio, video and images as attachments.
Audio formats that the application should support: mp3 wav Video formats that the application
should support: avi mp4 flv gif Image formats that the application should support: jpg png File
size must not exceed 2MB per message.

Broadcast Message: User should be able to create groups of contacts. User should be able
to broadcast messages to these groups.

Message Status: User must be able to get information on whether the message sent has
been read by the intended recipient. If recipient reads the message, 2 ticks must appear next to
the message read.

OUT OF SCOPE:

Future plans includes:

In future, it may also be used for paying utility bills, buying financial services, booking tickets
and much more as paying for any product or service would be as easy as sending a simple chat
message. Further, with the integration of Bharat QR, where users would be able to read and
generate QR codes on WhatsApp, multiple use cases such as offline payment at stores, can be
enabled through WhatsApp.
Further, WhatsApp may be able to provide merchants with post purchase analytics, ratings and
many more value added services. Data monetization models to analyses where users spend
their money and what they purchase may be used for opt-in users and further open up the
possibility of creating alternate credit rating models. The opportunities are large if the power of
analytics is applied on payments data of 200+million users.

 Providing inline document viewer that lets users view pdf and word attachments within
the application chat window itself.
 Further optimizations can be made to improve performance especially over the
network.
 This includes making most network specific requests as non-blocking background
processes.
 We also aim to expand our infrastructure to include more database servers so as to take
back up of user data more frequently
 Faster payment system through other mode of payment system other than credit and
debit cards
 Collect group payment feature
 Split money collecting features in the group
 Business Requirements:
WhatsApp has entered the fray with WhatsApp Pay. With a customer base of 350 million,
WhatsApp has all the potential to become the leader of the pack. The RBI wants none of the
companies to have more than 30 percent market share and has limited WhatsApp to around 10
percent market share before the licence can be expanded.

 More Users to be on WhatsApp

 Strong network in mobile and WhatsApp installed device
 Customer must have valid UPI ID linked to debit or credit card and account
 Pin and OTP should be enabled for transferring money from one account to another

Business Objective:
 Increase the customer base for WhatsApp
 More and more customer should use WhatsApp and its features
 Through digital payments it will be very easy for customers to transact and transfer
money
 Secure and safe way of transferring funds from one user to another
 No need to carry cash all the times in wallet, it helps in reducing money theft or loosing
of money

FUNCTIONAL REQUIREMENTS
User Registration User must be able to register for the application through a valid phone
number. On installing the application, user must be prompted to register their phone number.
If user skips this step, application should close. The user’s phone number will be the unique
identifier of his/her account on WhatsApp.

Adding New Contacts, the application should detect all contacts from the user’s phone
book. If any of the contacts have user accounts with WhatsApp, those contacts must
automatically be added to the user’s contact list on WhatsApp. If any of the contacts have not
yet registered on WhatsApp, user should be provided with an invite option that sends those
contacts a regular text message asking them to join WhatsApp along with a link to the
WhatsApp application on Google Play store.

Send Message User should be able to send instant message to any contact on his/her
WhatsApp contact list. User should be notified when message is successfully delivered to the
recipient by displaying a tick sign next to the message sent.

Send Attachments User should be able to send audio, video and images as attachments.
Audio formats that the application should support: mp3 wav Video formats that the application
should support: avi mp4 flv gif Image formats that the application should support: jpg png File
size must not exceed 2MB per message.

Broadcast Message User should be able to create groups of contacts. User should be able to
broadcast messages to these groups.

Message Status User must be able to get information on whether the message sent has been
read by the intended recipient. If recipient reads the message, 2 ticks must appear next to the
message read.

NON-FUNCTIONAL REQUIREMENTS

 Scalability WhatsApp should be able to provide instant messaging services to 1 billion

users at any given time.
 Privacy Messages shared between users should be encrypted to maintain privacy.
 Robustness In case user’s device crashes, a backup of their chat history must be stored
on remote database servers to enable recoverability.
 Performance Application must be lightweight and must send messages instantly.

Operational Requirements Application must work on all mobile and tablet devices. User
interface must be consistent on all devices

System Requirement:
WhatsApp is an online instant messaging application that integrates user’s contacts from their
phonebook with the application and enables exchange of messages free of cost over the
internet.

Users have to be on WhatsApp user for at least 30 days and register for payments on
the app by adding their bank account.

The procedure to set up WhatsApp UPI is mentioned below:

 Step 1: Open WhatsApp and go to 'Settings'.

 Step 2: Select 'Payments'.
 Step 3: Tap on Add new account.
 Step 4: Choose the bank from the options that are provided.
 Step 5: Next, your mobile number must be verified to set up a UPI account.
 Step 6: By using the UPI PIN, you can verify the bank account
 Usability:
Steps to Send Money to other UPI app Users Such as PhonePe or Google Pay
1. Open the WhatsApp Messenger app in your mobile and go to the 'Settings' option.
2. Now tap on 'Payments' and then select 'New Payment'
3. Now select the 'Send to a UPI ID' option and enter the UPI ID of the individual to whom you are
going to send money.

Screen Wireframes