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Brazil suspends Whatsapp Payment Service

24Jun By AdityaNo Comments

News

Brazil suspends Whatsapp Payment Service

Brazil's central bank ordered Visa and Mastercard to suspend a joint project with WhatsApp to roll out digital payments within the popular messaging service, over fears it would be anti-competitive. Brazil, which has the second-most WhatsApp users worldwide after India, was the pilot country for the platform's new integrated payments feature, which it launched on June 15 with an eye to rolling it out worldwide. But the central bank, which regulates payment systems in Brazil, put the new feature on hold indefinitely. "The reason for the central bank's decision is to preserve an adequate competitive environment, ensuring an interoperable, fast, secure, transparent, open and economical payment system," it said in a statement. WhatsApp, which is owned by Facebook, is the most popul...

Facebook Launched WhatsApp Payment Service in Brazil

15Jun By AnkitaNo Comments

News

Facebook Launched WhatsApp Payment Service in Brazil

SAO PAULO, 15th June 2020 -- Facebook launched its WhatsApp payment service in Brazil today. With the addition of Visa’s trusted payment technology, WhatsApp users will now be able to swiftly and securely send and receive money to family and friends, and to make purchases from small businesses on the popular global messaging service. Payments on WhatsApp will allow users to send money to individuals or local businesses within a chat, attaching payment as they would a photo or video. WhatsApp tested the payment system in India beginning in 2018. The Brazil launch will be the first nationwide rollout and will introduce the ability to directly pay a business. The company has over 120 million individual users in Brazil, its second-largest market behind India. “WhatsApp is heavi...

25Jul By PriyankaNo Comments

INDIA

WhatsApp to roll out payments service in India later this year

WhatsApp, which has over 400 million users of its messaging service in India, plans to roll out its much-awaited payments service in the country later this year, more than a year after it began testing the offering here. The Facebook-owned company has been testing its payments service in the country since last year with about a million users, but could not launch full-fledged services as it has been awaiting regulatory approvals. Speaking at an event here on Thursday, WhatsApp Global Head Will Cathcart said the company's vision is to make sending money as easy as sending messages on the platform. "We built payments based on the UPI standard, partnered with banks here in India... We believe that if we did this right, it will accelerate financial inclusion and bring more people in I...

WhatsApp’s Digital Payments Could Change the Scenario for Other Digital Players

16Feb By PriyankaNo Comments

News

WhatsApp’s Digital Payments Could Change the Scenario for Other Digital Players

Whatsapp has finally rolled out its much awaited payments feature across the country which is giving a huge boost to digital payments in India. Pixr8 also today published that digital payments in India will soon touch $1 trillion by 2023, which is for sure is good news for 'Digital India'. However, this is not the first time when WhatsApp tried foraying into the payments business. Last year it tried launching a payments app but was turned down by RBI, which says,"Non-bank entities applying for authorisation shall be a company incorporated in India and registered under the Companies Act 1956 / Companies Act 2013." WhatsApp, owned by Facebook is headquartered in United States hence it could not enter the payments market. However, after Modi's Starup India and Digital India campaigns, ...

Whatsapp Secretly Releases Beta Version of Payment in India

10Feb By NitishNo Comments

Tech

Whatsapp Secretly Releases Beta Version of Payment in India

Last month, it was reported that Facebook owned WhatsApp could launch its digital payment service in India which will allow peer-to-peer money transfer through the messaging app. After the feature's launch on November 07 in UK, the mobile application software is ready to launch the feature in India by this month. This comes as an enthralling news for the citizens of India as WhatsApp is the most used application by atleast 200 million daily users. The payment service will be launched in a beta version of its messaging app for now. Due to a lot of reasons such as, 2G data service, easy platform of WhatsApp, thousands of people depend upon the app solely, unlike Facebook, Instagram and other mobile app platforms that need a much higher data speed to perform. The latest feature of whatsap...