After the latest update by Whatsapp, Brazil users can now pay businesses directly through the app. Brazil users have not received the update since Whatsapp introduced the Payments feature several years ago.
Mark Zuckerberg posted the announcement via a post.
This seamless and secure checkout experience is a game-changer in the world of small businesses and individuals who want to buy and sell via WhatsApp.Mark Zuckerberg
Meta introduced peer-to-peer payments in Brazil. Users could send money to their contacts directly through the app. Some regulatory restrictions prevented the launch of Merchant Payments for Whatsapp users from Brazil.
The Central Bank of Brazil feared that Whatsapp Pay could harm the country’s existing payment options.
Users could only pay businesses via Whatsapp before if the merchant generated a link and sent it to Whatsapp. This process is too cumbersome and takes too many steps. This method was not popular with users.
The introduction of Merchant Payments has made things much easier for Brazilian users.
It is not known how many businesses have registered their company with Whatsapp. A 2020 report indicates that 5 million businesses have signed up for their service.
What’s new on Whatsapp Pay
Their new payment feature has a unique USP: you can choose from multiple payment options. You can choose from Visa, Mastercard, debit/credit cards or prepaid cards issued in other banks that have partnered to Whatsapp.
These are some of the banks that have already partnered with Whatsapp Pay Brazil Banco Inter, Banco Bradesco, MercadoLibre’s Mercado Pago, Unibanco Holding SA
Whatsapp currently has more than 120 million users in Brazil. Initial transfers will be limited to 1000 reais per transaction or up to 20 transactions per day. For each transaction, the limit will rise to 5000 Rias.
The rollout will take place in phases. The first phase will include a few users who will receive the payment feature on their app. They will also be allowed to invite other users.
WhatsApp makes it easy to do business in Brazil
Whatsapp is constantly improving Brazil’s business transactions and discovery.
Meta has yet to release an estimated date for rollout completion.
The company launched “Dictionary”, a database-like tool, for Brazilian users, in addition to the new payment feature. This tool allows users to search for businesses in their area. Whatsapp offers a list of the top businesses in almost every industry, including food, travel, and clothing.
Whatsapp’s in-app payment feature has been launched. Customers can now enjoy seamless, end to end shopping within the app. They can search for the best shops near them using the Dictionary feature. Then they can pay for their product/service through the app.
