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WhatsApp Users in Brazil Can Now Utilize Digital Payments

Why Is Libra the Biggest Challenge for Regulators till Date?
Why Is Libra the Biggest Challenge for Regulators till Date?

WhatsApp users in Brazil will be able to utilize digital payments from now onward. Thanks to this, users will be able to send secure funds as well as buy things from the secure application, which is a large boon for privacy, according to a blog post from the app.

Users can also view the store’s offerings as well as buy them from the application. The blog post notes that at least 10 million small businesses will benefit from this. On top of this, because the platform can take advantage of Facebook Pay, payments can be sent via just a message.

“We have built payments with security in mind and a special six digit PIN or fingerprint will be required to prevent unauthorized transactions,” the post notes. “To start, we 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. We have built an open model to welcome more partners in the future.”

It’s worth noting that sending money doesn’t have a fee for users trading between each other. Businesses, however, will have to pay a fee to receive payments. This process is starting today, and will continue to expand as time goes on.

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