Brazil’s central bank on Thursday approved Meta Platforms’ payments launch for small and medium-sized business in Brazil via its messaging application WhatsApp, building on the app’s existing local peer-to-peer payment system, according to Reuters.
Brazilians have been able to make P2P payments through WhatsApp since 2021 but regulators have put a hold on payments to businesses until now. The feature lets shoppers browse products, add them to a cart and make card payments from their WhatsApp chat.
„Soon, WhatsApp users will be able to pay for products and services directly in a conversation with Mastercard and Visa debit and credit cards,” Guilherme Horn, head of WhatsApp Latin America, said in a Linkedin post.
Meta CEO Mark Zuckerberg confirmed the news on Instagram, writing: „The Central Bank just authorized the launch of our new payment feature so people will be able to pay small businesses right on WhatsApp. Excited to roll this out soon.”
Stephane Kasriel, head, commerce and fintech, Meta, says the firm has prioritised an open model and is already testing with partner retailers.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: