Leading telecommunication app Truecaller has added a new feature 'Request Money' in the Truecaller pay option. The feature allows an app user to request money from their friends or family members who use the app. Truecaller pay uses Virtual Payment Address to make online transactions. The feature is rolling out in an incremental manner but the company has not clarified if it is available for both iOS as well as Android users.
When the user requests for money, a notification appears on the smartphone of the family member or friend from where the user has requested the money. Tapping on the notification presents the person with payment options where they can pay by entering MPIN in the app. The company has also included a shareable link in the app. The link can be shared with any user via various instant messaging platforms, email, SMS or posted on a website to receive payments.
According to the company, the feature will help small business in getting secure and simple digital payments from their customers. The app user can create their unique Virtual Payment Address (VPA) that helps in instantly sending or receiving money in the bank account linked to the app. A transaction can be made by any bank that supports Unified Payments Interface (UPI) as this new feature is built on UPI. The company recently announced that it has over 130 million users in India. It also pointed out that the platform is also getting closer to 100 million active users mark as the app has already crossed 90 million active users recently.