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After being halted by the Central Bank of Brazil in mid-2020, WhatsApp will be resuming its payment service in Brazil.

After being halted by the Central Bank of Brazil in mid-2020, WhatsApp will be resuming its payment service in Brazil

WhatsApp is the world’s leading messaging application, with nearly 2 billion users worldwide, growing from 1.5 billion users in 2018 to 1 billion users in 2016. Many features have been promoted globally, so you can start your business now. You can even use this app to shop online and make payments.

However, due to concerns about competition in the payment system market, Brazil stopped WhatsApp payment services in June 2020. The service is compliant, although Facebook responded that it had contacted the board of directors before the introduction of the payment feature in Brazil. However, after a long period of interruption, WhatsApp announced on Wednesday that it would reintroduce payment services. In this country, Facebook and WhatsApp CEO Mark Zuckerberg posted a video in Brazil that provided information about the payment methods included in WhatsApp that can also be used on Facebook and Instagram. Brazil may become a strong market for WhatsApp with a large number of users.

Facebook’s chief financial officer David Marcus said that the payment service that will return to Brazil will be part of the “gradual rollout.” However, there is no doubt that WhatsApp will not leave this market, which is why the company is seriously considering launching this service in Brazil. country. The company has also started video marketing for the service and published a page listing Facebook, a centralized payment system approved by the Central Bank of Brazil. In the last few days of March, we reported that the Central Bank of Brazil authorized the service in Brazil after Facebook was allowed to activate the payment service through the messaging app.

WhatsApp is updating UPI payment feature

According to the report, WhatsApp users in Brazil can link to debit cards, prepaid cards, or combination cards of multiple banks that work with their payment workstations. Now people from Brazil countries can send and receive funds on the platform without any specific fees or commissions. In addition to this payment service, since other banks in the country will also reduce fees related to receipts and payments, which will benefit the people of the country, market competition will also be maintained.

After being halted by the Central Bank of Brazil in mid-2020, WhatsApp will be resuming its payment service in Brazil.

credit: Digital Information World

LAST THOUGHTS:

In this country, Facebook and WhatsApp CEO Mark Zuckerberg posted a video in Brazil that provided information about the payment methods included in WhatsApp that can also be used on Facebook and Instagram. According to the report, WhatsApp users in Brazil can link to debit cards, prepaid cards, or combination cards of multiple banks that work with their payment workstations.

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