WhatsApp launched digital payments in Brazil enabling users to securely send money without leaving the chat.
With over 10 million small and micro-businesses being the heartbeat of Brazil’s communities, it’s become second nature to send a zap to a business to get questions answered.
Now, in addition to viewing a store’s catalog, customers will be able to send payments for products as well. Making payments simple can help bring more businesses into the digital economy, opening up new opportunities for growth.
In addition, Facebook is making sending money to loved ones as easy as sending a message, which could not be more important as people are physically distant from one another.
Facebook Pay Powers WhatsApp Payments
Because payments on WhatsApp are powered by Facebook Pay, in the future, the company wants to make it possible for people and businesses to use the same card information across Facebook’s family of apps.
Facebook says it built payments with security in mind and a special six-digit PIN or fingerprint will be required to prevent unauthorized transactions.
To start, Facebook will support debit or credit cards from Banco do Brasil, Nubank, and Sicredi on the Visa and Mastercard networks. The company is working with Cielo, the leading payments processor in Brazil, and is open to welcome more partners.
Sending money or making a purchase on WhatsApp is free for people. Businesses will pay a processing fee to receive customer payments, similar to what they may already pay when accepting a credit card transaction.
Payments on WhatsApp is rolling out to people across Brazil now. Brazil is the second country after India to have this service enabled.
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