WhatsApp finally launches digital payments in Brazil

WhatsApp finally launches digital payments in Brazil

After testing the beta version in India, WhatsApp has introduced in-app payments in Brazil, the payment is enabled through Facebook Pay, Parent company Facebook said last year that it was using Instagram, Messenger, Facebook and Could eventually roll out WhatsApp.  

WhatsApp finally launches digital payments in Brazil

There will be no charge for consumers to use the payment service, but merchants may pay processing fees to receive payment. Users got to link credit or open-ended credit to their WhatsApp account, and transactions are secured with fingerprints or six-digit PINs. 

The company says it will support debit or credit cards from Banco do Brasil, Nubank and Sicily, and is working with Brazilian payment processor Cielo. 

WhatsApp has made peer-to-peer digital payments in the works for some time. It launched a closed beta in India in 2018, and many WhatsApp hoped to be the primary official site for payments. 


Facebook acquired WhatsApp in 2014 for about $ 19 billion. As of February, the messaging service had 2 billion users. 

The rollout in Brazil was long planned, but may help users who engage during the coronovirus epidemic. 

The payment system will use Facebook Pay and will be generous to individual users, charging a fee to receive payment. 

WhatsApp finally launches digital payment

You use it by linking your WhatsApp account to your Visa or MasterCard credit or open-ended credit with early local partners including Banco do Brasil, Nubank and Sicily. Cielo, a payment processor, is additionally working to complete transactions with WhatsApp.

 
The Facebook-owned service said that users in Brazil are ready to use the payment service on WhatsApp to make purchases from local businesses, except for their chat.

Although WhatsApp has been performing on payment for years in principle; In what we understand, there are tons of partial thanks to how and where Facebook wanted to implement WhatsApp. Now that it is launching with Facebook Pay, it seems that we all know how this conflict happened.


As the latter areas to launch the service, it is unclear whether Facebook is going to work hospitably with other forms of payment methods, or perhaps other payment rails beyond Facebook Pay, or what kind of use for the service There are cases of - although testing using UPI in India means that it will not be just a one-size-fits-all approach.
 


These remain critical questions, considering that payment cards and even bank accou
These remain important questions, noting that payment cards and even bank accounts are not ideal in every market, especially emerging markets; Other types of transactions such as remittances - where people transfer money to friends, family and businesses that are often away - are a number of more popular uses of phones beyond simple calls and texts.

 

Facebook CEO Mark Zuckerberg's When asked for more specific details about future plans beyond, a WhatsApp spokesperson declined to mention more. But looking at the link with Facebook Pay, a clear inference may be that we can see those WhatsApp payments in markets where the previous service is now live, including the U.S. And U.K.


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