Whatsapp brings on app funds to customers in Brazil
WhatsApp makes sending money to loved ones as easy as sending a message in Brazil
Social Communications app from Facebook, Whatsapp has announced it will offer digital payments to WhatsApp users in Brazil. People can safely send money or shop at a local company without leaving their chat.
The over 10 million small and micro businesses are the heartbeat of the Brazilian communities. It has become second nature to send a Zap to a company to answer questions. In addition to viewing a store's catalog, customers can now send payments for products. Simplifying payment transactions can help involve more companies in the digital economy and open up new growth opportunities.
In addition, Whatsapp makes sending money to loved ones as easy as sending a message, which couldn't be more important since people are physically far apart. Since payments on WhatsApp are possible via Facebook Pay, Whatsapp would like to enable people and companies in the future to use the same card information in the entire Facebook app family.
Whatsapp has developed payments with security in mind. A special six-digit PIN or fingerprint is required to prevent unauthorized transactions. Initially, the mobile application supports debit or credit cards from Banco do Brasil, Nubank and Sicredi in the Visa and Mastercard networks – and works with them Cielo, the leading payment processor in Brazil. The mobile application has developed an open model to welcome additional partners in the future.
Sending money or buying via WhatsApp is free for people. Businesses pay a processing fee to receive customer payments, similar to what they may pay when they accept a credit card transaction.
Payments for WhatsApp are beginning to spread to people across Brazil, and Whatsapp is looking forward to making them available to everyone as they evolve.