WhatsApp has just launch a money sharing feature in Brazil. With around 130 million users in the country, the news was confirm by Mark Zuckerberg, CEO of Facebook, the company that owns WhatsApp.
In the testing phase since 2018 in India, WhatsApp Pay is now a reality among Brazilians. The innovation is that in addition to transferring money between users, the App also allows the method to be us between small businesses, allowing their sales to be made directly through the app.
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Brazil the first country to use the service
Brazil is the second country with the largest number of users of the app, and the first to have the service available. Among the main reasons for the release of the module in Brazil, the Coronavirus pandemic would have accelerat the process of including the system here.
The objective of transforming the virtual messaging application into a tool for sharing and financial transactions is, in addition to boosting digital payment systems in Brazil and supporting financial inclusion in the country.
Facebook has also been working with thailand phone number datafinancial institutions such as Banco do Brasil, Nubank, Sicri and Cielo to study improvements to the application and make the system as accessible as possible and extremely easy to use.
How does sending and receiving money via WhatsApp work?
WhatsApp Pay will use the Facebook Pay system . You must enable a card on Facebook Pay to use the enhanc measurement events feature. Users have a limit of R$1,000.00 per transaction. And can receive up to 20 transactions throughout the day, with a monthly limit of R$5,000.00.
Usage is free for individual users. For companies, only a fix fee of 3.99% will be charg on each customer payment, for receipt.
WhatsApp sends and receives money
The system also initially accepts payments made using debit. And crit cards from the following banks: Banco do Brasil, Nubank and Sicri. Cielo is responsible for processing the transactions.
Available for Android and bw lists iPhone (iOS), WhatsApp Pay’s money sharing model is similar to PicPay’s. Facebook plans to introduce the system to other countries, but it is not yet known which ones or when.