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WhatsApp Business Payments Approved By Brazils Central Bank

WhatsApp Business Payments Approved By Brazils Central Bank
English

WhatsApp Business Payments Approved By Brazils Central Bank.

Metas new source of revenue is being tested in the Brazilian market.

“The Central Bank just authorized the launch of our new payment feature so people will be able to pay small businesses right on WhatsApp,” Meta CEO Mark Zuckerberg posted Thursday on Instagram. “Excited to roll this out soon.”

WhatsApp users in Brazil have been able to make payments between users through the application since 2021, but the new development clears the way for merchants to receive payments.

“Soon, WhatsApp users will be able to pay for products and services directly in a conversation with Mastercard and Visa debit and credit cards,” Guilherme Horn, head of WhatsApp Latin America, said in a Linkedin post.

Once the feature launches, users will be able to browse for products and services in the app and pay for them with Mastercard and Visa debit and credit cards, directly in the conversation.

This feature was originally planned to be launched in 2021, but did not get a green light until now in 2023.

Brazil has the second largest user base in the world, coming in only second place to India.

It is now becoming the testing ground for Meta's plans to monetize WhatsApp and Messenger as the company is seeking alternative income streams to compensate for the falling revenues from advertising.

It is basically a requirement to have WhatsApp installed on your smartphone in Brazil for people doing any kind of business.

 

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