According to Reuters, the payment option on WhatsApp is available for Brazil again. After about a year, this Facebook chat platform has launched the WhatsApp feature feature in Brazil. It was found that Brazil was the launch country for whatsapp payment options. This feature was launched in India after several months launched in Brazil, but the central bank forced services to stop this feature. Banking services provide whatsapp approval for facilitating peer-to-peer payments supported by MasterCard March after seeing whether it meets all rules of competition, efficiency, and data privacy or not.
According to the Reuters report, WhatsApp avoided being categorized as a financial service company by relying on a visa bank license and MasterCard. Payment processors are asked to suspend money transfer activities from WhatsApp, and must secure new permits. The parent company must create a new unit called Pamentus Facebook do Brazil which will be arranged by the central bank.
Moving forward, whatsapp payment features are launched back in Brazil but this does not mean that everyone can access it. Only a number of people can access this at first, after that they must invite others to use this feature. Users can only send 5,000 real brazils with each other for free. However, a single transaction limit in Brazil is around 1,000 real Brazilians, and users can only process 20 transfers in a day and no more than this.
At present only the transfer of peer-to-peer will occur, but this feature is specifically introduced to help small traders. Local businesses in Brazil and India use this chat application on a high scale and this is why payment options are launched. Facebook still talks with a central bank about this feature and will launch the feature again this year.
