WhatsApp users can immediately make money transfers via the platform as easily as sending messages via WhatsApp Payment. This feature will be available soon to users in Brazil.
This new feature could be launched after Brazil’s Central Bank last week reportedly gave WhatsApp a green light to allow its users to send money using the Visa Inc and MasterCard card networks.
“(We) are making final preparations for payment via WhatsApp to be available in Brazil as soon as possible,” said a WhatsApp spokesman as quoted by Reuters, Monday (5/4/2021).
WhatsApp Payment Feature Previously was Launched
This feature was previously launched in the middle of last year. But was blocked by the Brazilian Central Bank on the grounds that it could damage the Brazilian payment system in terms of competition. Efficiency and data privacy. In addition, this service does not get the necessary license.
After initially trying to avoid becoming a financial services company in Brazil. WhatsApp finally gave up and tried to get permission from the Brazilian payments regulator.
Now the agreement has been obtained several months after the central bank issued its own instant payment called Pix in November 2020 which has been widely adopted by the public.
Fund transfers via WhatsApp in Brazil can only be done between users, not involving merchants. This means that you do not allow merchant payment transactions using WhatsApp Payment. There are currently 120 million active WhatsApp users in Brazil.
