Wed. Oct 27th, 2021

According to WhatsApp payments are now available in Brazil Reuters. The chat service, owned by Facebook, relaunched the feature almost a year later First live In the country. Brazil served as a launching pad for WhatsApp’s mobile payments – it was launched in India a few months later – but its central bank forced the service Suspend The feature right after launch. Banking authorities only gave WhatsApp Approval for convenience Visa or MasterCard-supported peer-to-peer payments this March after checking to see if they meet all the rules regarding “competition, efficiency and data privacy”.

As before Reuters The report sought to avoid classifying financial services companies as relying on existing bank licenses for WhatsApp, Visa and MasterCard. Payment processors were instructed to suspend money transfer activities via WhatsApp, but new permits had to be secured. As a chat service, its parent company had to create a new unit called Facebook Pagamantos Brasil which is now controlled by the central bank.

The feature has been relaunched in Brazil, but will not be accessible to everyone. At first only a limited number of users will have access to it and they will have the ability to invite other people to use the feature. Users will be able to send each other 5,000 Brazilian reals (US 9 918) per month for free. In addition, there is a limit of one thousand Brazilian reals (US 18 184) per single transaction and users cannot process more than 20 transfers per day.

At the moment WhatsApp can only process peer-to-peer transfers but it has initially introduced the feature to help small businesses. Local businesses in Brazil and India are using the chat app as their primary online presence, and the payment feature was supposed to help them easily accept digital payments. Facebook is still in talks with the central bank for merchant payments, and the company expects to launch this feature later this year.

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