Meta Platforms, formerly Facebook, has announced the launch of a payments tool for small and medium-sized businesses in Brazil via its massive messaging platform, WhatsApp.
"People in Brazil will be able to pay local businesses right in a WhatsApp chat. We'll be rolling this feature out to more businesses in the coming months," Meta CEO Mark Zuckerberg said in a recent Facebook post.
Reuters reports that the tool will allow WhatsApp users in Brazil to make purchases and payments directly through the app using Mastercard and Visa credit and debit cards.
Meta Expanding Beyond Advertising
The service is being offered in collaboration with payment processors such as MercadoLibre's Mercado Pago, Itau Unibanco's Rede, and Cielo and will initially be available to some WhatsApp Business merchants.
In the future, clients of WhatsApp's API, which primarily serves large businesses, will be able to receive payments.
Meta's latest move is a significant step forward in the company's efforts to expand its business messaging capabilities and diversify its revenue streams beyond advertising.
With over 140 million WhatsApp users in Brazil alone, there is no doubt that the payments tool has the potential to significantly impact the Brazilian market.
WhatsApp in Brazil
Reuters tells us that the payment tool's launch in Brazil follows nearly three years of regulatory scrutiny by Brazil's central bank, which approved the tool last month. Concerns were raised about the service harming competition, efficiency, and data privacy.
WhatsApp users in Brazil, on the other hand, have been able to make payments between users via the app since 2021, and last year, Meta launched a commercial directory for WhatsApp in Brazil, allowing users to find companies with business messaging accounts.
Brazil is not the first country in which WhatsApp users can pay businesses. Users in India, WhatsApp's largest market, can already make payments to businesses that use the app's paid API. However, Brazil is the first country to launch the service for small businesses using WhatsApp Business's free version.
Is the payment system secure?
In a recent blog post, Meta stated that payments, like all other WhatsApp features, were designed with security in mind. Card number encryption and secure storage are essential components of this process, as is the mandatory creation and use of a Payment PIN for each transaction. In addition, customer support is available to provide prompt assistance if needed.
Latest from WhatsApp
Wabetainfo reports that WhatsApp has recently updated its native desktop app for macOS, providing users with a more intuitive and streamlined experience. The new update features a revamped app sidebar that uses icons instead of labels, making it easier for users to navigate the app.
The updated sidebar not only matches the macOS interface but also saves space and reduces clutter, providing a more efficient and visually pleasing experience. While the feature is currently only available for some beta testers, it will be rolling out to more users soon.
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