Whatsapp finally Launches "Digital Payments" but it is limited for users in Brazil

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Digital payments launch on WhatsApp for users in Brazil-- Whatsapp's Digital payments will allow people to send money securely or make purchases from local businesses from within a chat.

Digital payments launch on WhatsApp for users in Brazil

Finally, Whatsapp's most awaited feature "Digital Payments" launched in Brazil, Starting Today the Facebook-owned messaging service announced that users in Brazil would be the first to be able to send and receive money by way of its messaging app, using Facebook Pay, the payments service WhatsApp owner Facebook launched last year. The company has over 120 million individual users in Brazil, its second-largest market behind India.

Whatsapp Digital Payments

According to Facebook, which owns WhatsApp Messenger,
Digital payments will allow people to send money securely or make purchases from local businesses from within a chat. The potential for this feature is big as there are over 10 million small and micro businesses that use WhatsApp as a part of their operations.

By the Whatsapp's latest blog posts which noted;
The payments service - which currently is free for consumers to use (that is, no commission fee taken) but businesses pay a 3.99% processing fee to receive payments - will work by way of a six-digit PIN or fingerprint to complete transactions.

How to make Payments via Whatsapp Digital Payments?

According to Whatsapp, To make payments via Whatsapp "Digital Payments";
You use it by linking up your WhatsApp account to your Visa or Mastercard credit or debit card, with initial local partners including Banco do Brasil, Nubank, and Sicredi. Cielo, a payments processor, is also working with WhatsApp to complete transactions.

“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.
  • Users in Brazil will be able to use the payments service on WhatsApp to make purchases from local businesses without leaving their chat, the Facebook-owned service said.
Explaining the new feature’s applications for non-business transactions and potential for growth in the future, Facebook in an official statement said:
“In addition, we’re making sending money to loved ones as easy as sending a message, which could not be more important as people are physically distant from one another. Because payments on WhatsApp are enabled by Facebook Pay, in the future we want to make it possible for people and businesses to use the same card information across Facebook’s family of apps.”
For providing more security and to reinforce security and also to prevent unauthorized transactions, WhatsApp will require users to key in a six-digit PIN or present a saved fingerprint stored by the device. The new feature is rolling out in Brazil from today. There’s no word on whether the feature will come to other countries.

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TechFosser | All Tech News Blog: Whatsapp finally Launches "Digital Payments" but it is limited for users in Brazil
Whatsapp finally Launches "Digital Payments" but it is limited for users in Brazil
Digital payments launch on WhatsApp for users in Brazil-- Whatsapp's Digital payments will allow people to send money securely or make purchases from local businesses from within a chat.
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