After series of tests that kicks off as early as 2018 in India, the Facebook owned WhatsApp now officially support Digital Payment through the Messaging App simultaneously.
The WhatsApp Digital Payment service was rolled out in Brazil on Monday which allow users to send money to individuals or local businesses within a chat, attaching payment as they would a photo or video.
Brazil are the first to receive the WhatsApp Digital Payment service round the globe at the moment. However, they’re the second-largest market after India that uses the WhatsApp Messaging app.
Chief operating officer of WhatsApp, Matt Idema said “We think we can help grow digital payments, help grow the digital economy with small businesses, and help support financial inclusion.”
Idema continued as he made it clear that the rollout of WhatsApp Digital Payment in Brazil has been long planned, and it may help users who are shut in during the coronavirus pandemic.
“We can’t have the kind of interactions with each other that we normally would, if you want to lend someone cash or if you want to buy something from a local business,” he said.
The Whatsapp Digital payment system will use Facebook Pay and be free to individual users, while charging businesses a fee for receiving payments.
Initially, the system will accept payments from debit and credit cards from Banco do Brasil, Nubank and Sicredi, and is working with Cielo to process the payments.
Bring the WhatsApp payment system to other countries is ongoing now, however, no specific date was given nor next country on the line.