WhatsApp Starts Rolling Out Payment Feature, Brazil Gets It First!

Must Read

Net Worth Of Jeff Bezos Is More Than Combined Net Worth of India’s Top 10 Richest People!

Jeff Bezos and the phrase 'World's Richest Person' has become synonym to each other. But after the...

Search Engine Optimization In Digital Era: Look Beyond Traffic

Search engine optimization, aka SEO, plays a vital role in today's online world, especially if it's about...

The Sudden Rise In The Demand Of Refurbished Smartphones In India!

The new normal is changing the dynamics of the Indian smartphone industry. In the last two to...

For a very long time WhatsApp messaging app users hung tight for the launch of money transfer feature, and it’s finally arrived. However, the feature is not getting rolled out for all 2 billion users WhatsApp users worldwide as the company has decided to make it available only for the users in Brazil.

The Facebook-owned mobile messaging application took to its blog to announce the launch, disclosing that the much-awaited feature would be made available from today itself for all the users in Brazil.

Whatsapp users who have got access to the new feature will have the option to send cash to other users or friends and family without an expense. However, WhatsApp Business users will be charged a handling fee of 3.99% to receive payments from their clients.

Advertisements

Since Facebook acquired WhatsApp, the payments are dealt with by Facebook Pay. As opposed to set up another platform, it bodes well for Facebook to utilize the existing one to introduce the instant payment service. Given the popularity and daily usage of WhatsApp worldwide, it makes perfect sense for Facebook to club the feature with WhatsApp.

All the Visa or Mastercard cards would be accepted in partnership with local partners like Banco do Brasil, Nubank, and Sicredi. To process the payment WhatsApp has partnered with Cielo Brazil.

WhatsApp, however, has set its eyes on other markets as well in regards to the newly launched payment feature. For the last few months, rumours are making rounds that WhatsApp is actively working to iron out all legal and other challenges to clear the launch of WhatsApp Payment in India – one of the fastest-growing digital payment market in the world.

With over 2 billion monthly active users, WhatsApp could easily surpass some of the leading mobile payment apps even if just 10% – 15% existing messaging users start using the payment feature.

There’s no word yet with regards to a worldwide rollout, yet we will keep this article refreshed as and when more information is available.

Advertisements

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Global 5G Chipset Market: $22.41 Billion By 2026, Driven by 5G Smartphones

As the world has started shifting from 4G to 5G era, the global 5G chipset market has...

Launch Of JioMeet Will Make Zoom To Be The 60th Chinese App To Get Banned In India?

Today as soon as the launch of JioMeet was formally announced by Mukesh Ambani, the frontman of Reliance Industries, people quickly found...

Intel Invest in Jio Platforms: A Chance For Redemption In The Smartphone Market?

If you thought Mukesh Ambani was finally going to stop the stake selling spree in Jio Platforms after RIL was recently announced...

With The Launch of JioMeet Reliance Sets Its Eyes On Video Conferencing Market!

The race to dominate the video conferencing market has just become more interesting. As we are going through the...

Facebook To Shutdown Lasso, The TikTok Competitor: A Well Calculated Move?

By now almost everyone is aware of how Facebook Inc. (NASDAQ:FB) always attempts to copy every other popular app that tries to...

Net Worth Of Jeff Bezos Is More Than Combined Net Worth of India’s Top 10 Richest People!

Jeff Bezos and the phrase 'World's Richest Person' has become synonym to each other. But after the latest jump in the net...

In-Depth: Dprime

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

Fantastic 4: Four Day Work Week A Flashpoint Of Innovation?

It has been an idea that has been mooted by many, perhaps also somewhat sceptically. From being a dark horse to becoming...

TikTok Is Facing The Wrath Of People Who Love It The Most

Ever since the popular social media app TikTok entered India, it has been growing very aggressively in terms of users. Within a...

More Articles Like This