WhatsApp Launches Digital Payments for Users in Brazil

WhatsApp has over 120 million individual users in Brazil, its second-largest market behind India.

WhatsApp Launches Digital Payments for Users in Brazil

WhatsApp has been testing its payments service in India since 2018

Highlights
  • The rollout in Brazil was long planned
  • This is the first nationwide rollout for WhatsApp's payment service
  • WhatsApp has 120 million users in Brazil, its second biggest market
Advertisement

Facebook's WhatsApp messaging service rolled out a system across Brazil on Monday that will allow users to send money to individuals or local businesses within a chat, attaching payment as they would a photo or video. WhatsApp tested the payment system in India beginning in 2018. The Brazil launch will be the first nationwide rollout and will introduce the ability to directly pay a business.

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.

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

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.

© Thomson Reuters 2020


Is OnePlus 8 Pro the perfect premium phone for India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts or RSS, download the episode, or just hit the play button below.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

NetEase, Warner Bros to Develop ‘The Lord of the Rings: Rise to War’ Game
Realme Buds Air Neo Review
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »