A Facebook Company Whatsapp has started rolling out a news system feature which will allow users to send money to individuals or local businesses within a chat. The payment methods will be as easy as sending the photos and videos on WhatsApp. Whatsapp has been already working on its Whatsapp payment features and in India, it was first heard in 2018. Initially, the feature will be only available in Brazil. The nationwide launch of Whatsapp payments will take time.
The company has over 120 million individual users in Brazil, its second-largest market behind 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.
It has been confirmed that the payment feature will use Facebook Pay and be free to individual users while charging businesses a fee for receiving payments.
The methods for accepting the payments will be from debit and credit cards from Banco do Brasil, Nubank, and Sicredi, and is working with Cielo to process the payments.