presenting, by a hardware processor, a payment interface element at an input interface of a messaging application on a user device by the hardware processor, and wherein the hardware processor is configured to execute the plurality of computer program instructions to present the payment interface element;

receiving, by the hardware processor, a selection of the payment interface element, by the hardware processor, and wherein the hardware processor is configured to execute the plurality of computer program instructions to receive the selection of the payment interface element, and wherein the payment interface element on the input interface of the user device is executed executes independently of the messaging application;

detecting, by the hardware processor, a recipient for a payment transaction during an interaction between at least two user devices through the messaging application based on the selection of the payment interface element, and wherein the hardware processor is configured to execute the plurality of computer program instructions to detect the recipient for the payment transaction;

presenting, by the hardware processor, an identifier corresponding to the detected recipient, and wherein the hardware processor is configured to execute the plurality of computer program instructions to present the identifier, and wherein the identifier represents account information of the recipient; and

executing, by the hardware processor, a payment transaction between the user device and the recipient based on the identifier, by the hardware processor, and wherein the hardware processor is configured to execute the plurality of computer program instructions to execute the payment transaction;

identifying context of the interaction between a user corresponding to the user device and the recipient, and rendering a notification of payment options available on the input interface based on the context by executing the plurality of computer program instruction with the hardware processor, and wherein the detection of recipient includes at least one of identification of bank accounts or a unified payments interface (UPI) accounts linked to at least one of an account number, a phone number, or other identifier of the recipient;

wherein the payment interface element is a currency icon, or a pay icon, and wherein the payment interface element is displayed on a bar which is arranged above the input interface, and wherein the identifier represents account information of the recipient, a phone number, an account number, a payment gateway identifier, and a transaction address, and wherein the integrated payment system determines a context of the interaction between the users and renders a notification of payment options available to the users within the input interface, on at least one of the input interface and the Graphical User Interface (GUI) of the user application, and wherein the integrated payment system generates and renders prompts regarding a context of a current communication or chat between users, and wherein the integrated payment system detects the context in real time and provides a prompt within the input interface from which the users access payment screens, when the context is related to payments or finance, and wherein the hardware processor is configured to execute the plurality of computer program instructions to execute the complete process of linking directly from within the input interface, thereby precluding a requirement for switching between applications on the user device to perform basic account setup operations and making the linking process more convenient for the user, if a bank account or a UPI account is not connected or linked to the input interface, and wherein the integrated payment system on the recipient's user device generates a sharable quick response (QR) code with the recipient's UPI ID that is shared with the user and allows the user to scan the QR code and proceed to enter the payment amount on the payment screen, when the user selects the option to send a payment by scanning the QR code, and wherein the integrated payment system on the user's device allows the user to scan any UPI QR code to detect a virtual payment address (VPA) and proceed with payment transactions.