What Data WhatsApp will collect?
With this new update, WhatsApp will collect crucial user data such as location data, IP addresses, phone model, OS, battery level, signal strength, browser, mobile network, ISP, language, time zone, and IMEI. The main problem lies with the collection of IMEI, Mobile Network and IP Address, signal strength, rest are some common statistics that will be harmless to the user if shared (though it should not be shared).
The IMEI is something which should not be shared with any companies without having knowledge about them (company) to the user, and now Facebook will collect this and share the data. IMEI is something that can give the collector each and every data about the user. There’s also the information about how you are messaging, calling, what groups you are attending, the Status, the profile photo, last time you were online, etc. This is something that is not acceptable in terms of Privacy.
Moreover, the WhatsApp will collect Payment related data for Analytical purpose (what they mention) for the purchases made through the APP, mentioned under the section "Transactions and Payments data".
The European Union 27 countries are somewhat lucky due to tight privacy policies (GDPR). The data for these users will not be shared anywhere.