After waiting for such a long time, WhatsApp has finally pulled the trigger on the Payment options in its app. After some beta testing in India, WhatsApp has announced that users in Brazil would be the first to be able to send and receive money by way of its messaging app. The payments are done using Facebook Pay, the payments service WhatsApp owner Facebook launched last year.
“Payments on WhatsApp are beginning to roll out to people across Brazil beginning today and we look forward to bringing it to everyone as we go forward,” the company said in the post. WhatsApp says its digital payments are an open model that will allow it to add more partners in the future.
WhatsApp says in its blog that the payment service is free for consumers to use( that is, no commission fee is taken) but it charges a 3.99% processing fee to receive payments for businesses. The payment will be authorized by way of a six-digit PIN or fingerprint to complete transactions.
You can use it by linking your WhatsApp account to your Visa or Mastercard credit or debit card. Initial local partners in Brazil include Banco do Brasil, Nubank, and Sicredi and it’s working with Brazilian payments processor Cielo. The company has stated that they are using an open model to welcome more partners in the future.
WhatsApp has been testing this feature in India for a long time using UPI instead of Visa or Mastercard. Many assumed that the world’s second-largest internet market would be the debut region for the service. As of now, WhatsApp is still working on releasing the payment option in India.