WhatsApp starts digital payment system for users in Brazil

Facebook-owned WhatsApp is now no more restricted to just chatting or sharing images, videos but the App will now also provide a digital payment facility. Whatsapp on Monday (June 16, 2020) has digital payments to WhatsApp users in Brazil.

In its statement, Whatsaap said, '' 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.''

Whatsapp further said that Brazil has over 10 million small and micro businesses amid its communities and it’s become second nature to send a zap to a business to get questions answered.

Announcing the launch of the new feature, Whatsapp said, now in addition to viewing a store’s catalog, customers will be able to send payments for products as well.

Whatsapp believes that making payments simple can help bring more businesses into the digital economy, opening up new opportunities for growth.

The new feature will have a special six-digit PIN or fingerprint to complete the payment process in order to avoid any unauthorized transactions. In the beginning, Whatsapp 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.

However, the payment feature on WhatsApp is enabled by Facebook Pay, with the objective to make it possible for people and businesses to use the same card information across Facebook's family of apps. 

Whatsapp further also said that they have built an open model to welcome more partners in the future.

The social media company has also tried to make the app user friendly and easy-to-do transaction, Whatsapp said, ''we’re 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.''

Whatsaap was working on the idea of digital payment since 2018 as it has launched a closed beta in India in 2018.