Brazil’s Central Bank has announced it will authorize a payments system involving Facebook Inc’s WhatsApp messaging service, to send money and make payments via chats, according to nytimes.com.
The go-live to the project is said to be conditioned by all rules being respected, according to the announcement made by the bank.
„We view the entry of ‘big tech’ as a huge opportunity. Everyone can participate. We will allow it, no problem. People can take whatever path they want, (do) whatever initiatives they want,” as long as rules and regulations are met, director Joao Manoel Pinho de Mello said during a live online event hosted by Genial Investimentos.
The central bank suspended the newly launched WhatsApp payment service in June 2020 when Brazil’s Central Bank stated that the suspension will let it evaluate any possible risk to the country’s system of payments, and to determine whether the payments system meets the necessary rules, as starting the service without the regulator’s approval could generate damage, especially regarding issues such as competition, efficiency, and data privacy, Bloomberg reported.
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:
