• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / Industry / Whatsapp-Based Payment Services Launched in Brazil
Whatsapp-Based Payment Services Launched in Brazil

Whatsapp-Based Payment Services Launched in Brazil

June 16, 2020 by Arnold Kirimi

After months of speculation and testing, Facebook finally launched WhatsApp-based payment services in Brazil. On 15 June, Whatsapp announced that its users residing in Brazil would be the pioneers of a new payment service using Facebook pay. Facebook pay will be integrated into WhatsApp to make it easier to send and receive funds through the application.

In the announcement, Whatsapp noted that the payment services based on WhatsApp are free of charge in the meantime. For commercial purposes, i.e., the WhatsApp business will have to pay a 3.99 percent processing fee in order to receive payments. In addition, the messaging giants noted that a six-digit PIN or fingerprint code would be used to initiate transactions.

WhatsApp-based payment services to work with credit/debit cards

The service will be used by integrating Visa / Mastercard credit or debit cards into the WhatsApp account with early domestic partners such as Banco do Brasil, Nubank, and Sicredi. Cielo, the payment processing firm, is also working with WhatsApp to process payments. The firm has recently stated that it has created an open model to accommodate more partnerships.

The news of the payment services based on WhatsApp comes as a surprise since WhatsApp has been testing another system in India for several months now (the test uses another method, not Facebook Pay but UPI). Most people believed India would be the pioneering region for the payment service.

India is Whatsapp’s largest market

In fact, Facebook has been challenged by a regulatory situation in the region; limiting the pilot test to only a limited rollout in the second largest internet market in the world. Besides, India is WhatsApp’s largest market, with a user base of over 400 monthly active users. Brazil comes in as second with a monthly active user base of 120 million.

Facebook’s latest move to launch the WhatsApp-based payments services on the 2 billion users application, signals that the firm is taking a more thorough commercial jump. The mobile app is not only providing an avenue to communicate but also a platform to transact.

Filed Under: Industry Tagged With: Brazil, Facebook, Fintech, India, social payments, Whatsapp

Primary Sidebar

Recent Posts

  • Bitcoin Tanked Due To Power Outage In China Says Willy Woo April 19, 2021
  • Tron’s [TRX] Bullish Momentum Takes A Hit As It Hovers Near $0.14 April 19, 2021
  • Bitcoin Future Traders Are Not Bullish Despite Recovery Above $56K April 19, 2021
  • DeFi’s TVL Surpasses $60 Billion As Institutional Interest Surges April 18, 2021
  • Tron’s DeFi Ecosystem TVL Surges Past $15 Billion April 18, 2021


Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2021 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.