Facebook launches WhatsApp payment service in Brazil

WhatsApp payment

Facebook Inc’s has launched its WhatsApp payment service in Brazil. With over 120 million users, Brazil is WhatsApp’s second-largest market after India.

The WhatsApp payment will allow users in Brazil to send money to individuals or local businesses within a chat, attaching payment as they would a photo or video.

“WhatsApp is heavily used there, both by people and small businesses,” Matt Idema, chief operating officer of WhatsApp

“We think we can help grow digital payments, help grow the digital economy with small businesses, and help support financial inclusion,” he said in the interview an interview.

Facebook said in the Reuters interview that the payment system will use Facebook Pay and be free to individual users, while charging businesses a fee for receiving payments.

The system will only accept payments from debit and credit cards from Banco do Brasil, Nubank and Sicredi, and is working with Cielo to process the payments.
Idema told Reuters that the payment service will be launched in other countries but it is not certain when and what continent it will be launched.
The launch of the WhatsApp payment service raises questions as ti whether Facebook has jettisoned its Libra digital currency project. Last year, Facebook announced that it will launch Libra digital currency using the Calibra wallet to enable any Facebook user to send money to anyone in other parts of the world.
After the Libra project generated a lot of controversies and many other members of the Libra Association exited the body, Facebook has been quiet about the Libra.