WhatsApp new money transfer service allows you to send and receive money for
WhatsApp finally launches its payment service
Facebook has just launched a payment and money transfer service via WhatsApp in Brazil and plans to offer the same functionality in other countries.
The media has been talking about the WhatsApp payment system project for a long time. And today, it is finally formalized.
In a blog post, Facebook’s messaging service announces the possibility in Brazil of transferring money via the application. This functionality is available for companies selling products or services, as well as for transfers between individuals.
Since 2019, WhatsApp has offered a feature that allows companies to present their catalogues on the messaging application.
And now it will also be possible to receive payments from customers via it. “Simplifying payments can help bring more businesses into the digital economy, opening up new growth prospects, ” said the WhatsApp announcement.
Between individuals, money transfers are even simpler. According to Mark Zuckerberg, transferring money to WhatsApp is now as easy as sending a photo via the app.
In addition, these transfers between individuals are free. On the other hand, for businesses, there will be fees comparable to those of card payment systems.
Otherwise, we will also note that this payment service on WhatsApp is powered by “Facebook Pay”, which already allows you to make payments and money transfers on Facebook or Messenger.
And the company wants to integrate WhatsApp and Facebook with regard to payments so that users do not need to register bank information twice if they are already using the payment system on Facebook.
In its announcement, WhatsApp also talks about security: transactions must be validated by a PIN code or by the use of a fingerprint sensor. And if for the moment, this new WhatsApp functionality is only available in Brazil, the service is already planning to deploy it in other countries.
A payment solution while waiting for Novi?
Facebook is launching this new payment service on WhatsApp while at the same time, the company is also continuing to develop the Libra platform with its partners, as well as that of the Novi payment service.
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As a reminder, Libra is a cryptocurrency project managed by Libra Association (of which Facebook is a part). And Novi is a new Facebook service which, thanks to the Libra cryptocurrency, will allow money transfers to be made through the company’s various applications.