WhatsApp users in Brazil will be able to make payments within the app, the Facebook-owned company announced on Monday. This is coming after a beta test version was launched in India. Last year Facebook had said it would be rolling out in-app digital payments on Instagram, Facebook Messenger, and WhatsApp.
“We’re excited to announce that starting today we’re bringing digital payments to WhatsApp users in Brazil. People will be able to send money securely or make a purchase from a local business without leaving their chat.”
Customers will in addition to being able to view catalogs of businesses, send payments for products as well. Payment on WhatsApp is enabled by Facebook Pay; a product a feature that allows you to make payments on the social media platform. The idea is to make sending and making payments on the chat app as easy as chatting with friends and businesses.
On security, WhatsApp said payments was built with a special six digit PIN or fingerprint that will be required to prevent unauthorized transactions. “To start, we will support debit or credit cards from Banco do Brasil, Nubank, and Sicredi on the Visa and Mastercard networks -and we are working with Cielo, the leading payments processor in Brazil. We have built an open model to welcome more partners in the future.”
While sending money is free for individuals who make purchases using the in-app payments feature, businesses, will however, be responsible for the processing fee to receive payments from customers. This is not different from what is currently obtainable when accepting credit card transaction.
Facebook’s attempt at rolling out payments in India ran into regulatory hitches sometimes last year, which necessitated a change in plans. Earlier in the year, the social media behemoth announced plans to roll out payments in multiple countries.
India’s apex bank had directed the National Payments Corporation [NPCI] not to allow a full-scale roll out of the payments service in the country following the Israeli spyware Pegasus hacking incident last year.
The apex bank in India also directed the National Payments Corporation of India (NPCI) to not allow a full-scale launch of the payments service in India by WhatsApp.
Earlier in 2019, Facebook founder Mark Zuckerberg had hinted that WhatsApp payment would hit more countries before the end of that year. In a statement on his Facebook page at the time, Zuckerberg said: We’ll roll out payments on WhatsApp in some more countries.” The latest we have on that is a Twitter post from reliable tech blogger WABetaInfo. In his tweet, he said WhatsApp payment is set to go live in Brazil, Mexico and the UK.