WhatsApp has released a feature that will allow users send money and make payments to businesses directly from the app.
This update is currently available only in Brazil – which is WhatsApp’s second-largest market with over 120 million users. It is free for users sending money to contacts or businesses, but business owners will be charged a fee to receive payments from customers.
For top security, a six-digit passcode or fingerprint will be required for transactions.
The service currently supports debit/ credit cards from Banco do Brasil, Nubank, and Sicredi on the Visa and Mastercard networks -and Cielo S.A., the largest payment system company in Brazil.
The system is powered by Facebook Pay, which has been active in the U.S. and U.K. for some time now. WhatsApp digital payment is sure to make a difference in financial transactions when it makes its way to a wider audience.
WhatsApp payments are starting to roll out to Brazil users and WhatsApp looks forward to bringing it to everyone.
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