WhatsApp’s Ground-Breaking 'Payment' Feature Suddenly Returns - in Brazil

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Merlino
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Location: Port Harcourt
 

April 1st, 2021, 3:21 am

WhatsApp’s Ground-Breaking 'Payment' Feature Suddenly Returns - David Phelan
WhatsApp launched a new payment feature last year.
WhatsApp
WhatsApp
On June 18, 2020, WhatsApp announced a brilliant new feature: the capability to transfer money using the app. It launched but was quickly stopped. See the story: https://bestnaija.ng/brazil-suspends-wh ... nts-t78657


Now, it’s back.

The launch was welcomed as one of the most convenient ways to pay a friend, colleague. Initially, it was released in Brazil, with WhatsApp saying it planned to roll the service out to more countries in due course.

Then, the service was quickly suspended less than a week after the announcement, because of anti-competitive concerns – Brazil’s central bank felt that it could be damaging to Brazilian banks and financial technology companies and that there could be data privacy issues.

The service is ground-breaking because it would work, simply, for so many people. Apple has a similar service, Apple Pay Cash, but it only works between users of Apple devices, whereas WhatsApp is common to iPhone and Android devices. The reach is amazing: over half of Brazil’s 213 million population are WhatsApp users.
WhatsApp Payment
WhatsApp Payment
Now, the bank has removed the block so that users can send each other money using Visa and Mastercard.

WhatsApp wasn’t recognized as a financial services company in Brazil, nor did it want to be but regulatory pressure meant it needed its own financial approval. Eventually, as reported by Reuters, WhatsApp sought formal approval as a payments initiator and will use Visa and Mastercard as processors. The card systems got new permits to work with the app.

However, though the initial plan was that users could make payments to businesses, WhatsApp is only permitted to action peer-to-peer payments.

Facebook, in the meantime, is trying to seek approval to work with merchants, too. No date has been set for the new service to launch, though a WhatsApp spokesperson said it’s making final preparations to have payments available as soon as possible.

Assuming WhatsApp is still planning to expand beyond Brazil, this could still be a real game-changer, with its biggest market, India, a likely target. It’s that could simply revolutionize payments for everyone.
Forbes: https://www.forbes.com/sites/davidphela ... ssion=true

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eMade
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Location: Abuja
 

April 1st, 2021, 3:26 am

This is revolutionary! Naija where are you? :excited:
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Debunie
Senior
 

April 1st, 2021, 3:32 am

Make we see am first, boom another way to cashout for yahoo boys
Am a human what are you.
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afHTML
Junior
Location: texas
 

April 1st, 2021, 3:33 am

But we don't trust WhatsApp and Facebook. Your details are not safe, are they? :shkd:
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Sally
Senior
Location: Kaduna
 

April 1st, 2021, 1:21 pm

This is not good at all
http://www.facebook.com/eddiong.cletus chat me on fb
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Meto1234
Senior
 

April 1st, 2021, 4:02 pm

Debunie wrote:Make we see am first, boom another way to cashout for yahoo boys
E be like say u dey read my mind.
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Debunie
Senior
 

April 1st, 2021, 4:59 pm

Meto1234 wrote:
Debunie wrote:Make we see am first, boom another way to cashout for yahoo boys
E be like say u dey read my mind.
yahoo loading
Am a human what are you.
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Deon
VIP VIP
Location: Some where in Nigeria
 

April 1st, 2021, 5:13 pm

afHTML wrote:But we don't trust WhatsApp and Facebook. Your details are not safe, are they? :shkd:
i cant trust Facebook and Whatsapp with my details.
An eye for an eye left thousands blind,
remember that......
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Eminzynuel2005
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Location: Akure, Ondo-road, 32 ARTILLARY BRIDGADE, SNCOQ Block 15 B.
 

April 2nd, 2021, 8:52 am

Hmm another method for yahoo boys
emykay 🤟
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Kelceeboy
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April 2nd, 2021, 9:02 am

That facebook just wants to know everything about you
DM Let's Vibes Naughty :wink:
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