Brazil Suspends WhatsApp Digital Payments
In this file photo a picture taken on December 28, 2016 in Paris shows the logo of WhatsApp mobile messaging service. Facebook on June 15, 2020 added a digital payments feature to its WhatsApp messaging service, starting in Brazil but with an eye to expanding around the world.
Brazil, which has the second-most WhatsApp users worldwide after India, was the pilot country for the platform’s new integrated payments feature, which it launched on June 15 with an eye to rolling it out worldwide. But the central bank, which regulates payment systems in Brazil, put the new feature on hold indefinitely.
“The reason for the central bank’s decision is to preserve an adequate competitive environment, ensuring an interoperable, fast, secure, transparent, open and economical payment system,” it said in a statement.WhatsApp, which is owned by Facebook, is the most popular mobile messaging app in the world, with more than 1.5 billion monthly users globally, according to market tracker Statistica.
The in-app payment feature, which could be accessed directly within a conversation with a participating business, was free for users.
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