WhatsApp Launches Digital Payments For Users In Brazil Which Has Over 120 Million Individual Users – Faqontech

WhatsApp Launches Digital Payments for Users in Brazil Which has over 120 million individual users

by Abioye Shinaayomi
WhatsApp Launches Digital Payments for Users in Brazil FaqonTech

WhatsApp Launches Digital Payments in Brazil. Facebook’s WhatsApp messaging provider rolled out a device across Brazil on Monday that can permit users to send money to people or native businesses within a chat, attaching payment as they’d a photograph or video. WhatsApp examined the cost system in India beginning in 2018. The Brazil launch would be the first national rollout and will introduce the power to without delay pay a trade. The company has over 120 million particular person users in Brazil, its second-largest market in the back of India.

“WhatsApp is heavily used there, both by people and small businesses,” Matt Idema, chief operating officer of WhatsApp, said of Brazil.

“We think we can help grow digital payments, help grow the digital economy with small businesses, and help support financial inclusion,” he told Reuters in an interview.

Many of Brazil’s small businesses already use WhatsApp as a marketing tool to answer questions or send catalogs, Idema said.

Facebook Chief Executive Mark Zuckerberg said in April that the company was expanding tools for businesses in WhatsApp.

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The rollout in Brazil was long planned, but may help users who are shut in during the coronavirus pandemic, Idema said.

“We can’t have the kind of interactions with each other that we normally would, if you want to lend someone cash or if you want to buy something from a local business,” he said.

The payment system will use Facebook Pay and be free to individual users, while charging businesses a fee for receiving payments.

Initially, the system will accept payments from debit and credit cards from Banco do Brasil, Nubank and Sicredi, and is working with Cielo to process the payments.

Idema said the company was planning to bring the payment system to several other countries, but he did not specify which ones.

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