Facebook-owned company WhatsApp messaging service has launched a payment system that will enable WhatsApp users to send money to others within a chat. The most interesting part is, the payment can be attached as they attach a video or a picture.
WhatsApp initially tested the UPI payment system couple of years back in India, the company decided to formally introduce and launch it in Brazil. The payment ability will be for every WhatsApp user to directly pay a business within a chat.
One of the reasons why the feature is rolled out in Brazil is because of 120 million active individual users in the country. It is the 2nd largest user market, after India.
Today, Facebook CEO Mark Zuckerberg officially announced the feature through his Facebook post.
"Today we're starting to launch payments for people using WhatsApp in Brazil. We're making sending and receiving money as easy as sharing photos. We're also enabling small businesses to make sales right within WhatsApp.
To do this, we're building on Facebook Pay, which provides a secure and consistent way to make payments across our apps. I want to thank all of our partners for making this possible. We're working with local banks, including Banco do Brasil, Nubank, Sicredi as well as Cielo, the leading payments processor for merchants in Brazil.
Brazil is the first country where we're widely rolling out payments in WhatsApp. More to come soon!"
As stated in the end, the company will soon introduce this feature to other countries.
Last year, Facebook introduced “Facebook Pay” to facilitate its users with a convenient, secure, and regular payment experience. The service is working across Facebook and all Facebook-owned apps such as Messenger, Instagram, and WhatsApp.