WhatsApp today launched its payment platform in Brazil. Users in Brazil will be able to use the service by linking their WhatsApp account to a credit or debit card and local banks and payment processors. Users will access the service for free. However, businesses will pay a processing fee to receive payments from customers.
The new payment option will help enhance earlier tools on WhatsApp. Last year, the platform launched a catalogue feature which allows businesses to showcase their products and their prices. The payment option will now complete the customer journey, allowing a business account to operate as a micro e-commerce site.
“Now, in addition to viewing a store’s catalogue, customers will be able to send payments for products as well. Making payments simple can help bring more businesses into the digital economy, opening up new opportunities for growth,” reads a WhatsApp blog.
Users in Brazil will require a six-digit pin, or a fingerprint to authorize transactions. Currently, it accepts Visa Cards and Mastercards from three banks and a payment processing platform. However, the company is looking to engage more partners in future.
“We have built an open model to welcome more partners in the future. Payments on WhatsApp are beginning to roll out to people across Brazil beginning today, and we look forward to bringing it to everyone as we go forward.”
Facebook
The payment platform will run on Facebook Pay, a feature on Messenger that allows friends to send money to each other. In future, Facebook will let users share card information across its portfolio of apps.
Brazil is the second biggest country for the messaging platform after India. The company has over 120 million users in the country.
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