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.
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.