After months of talks and trials, WhatsApp has finally pulled the trigger on payments in its app. Today the Facebook-owned messaging service announced that users in Brazil would be the first to be able to send and receive money by way of its messaging app, using Facebook Pay.
The news comes a little bit as a surprise: the company has been testing this payments service among users in India for months, so many assumed that the world’s second largest internet market would be the debut region for the service. But Facebook remains stuck in a regulatory maze in India that has prevented it from expanding the payments service in its biggest market.
WhatsApp has been used informally for commercial purposes almost from the very start: small business owners have used the platform to exchange messages with users around the sale of goods, what is in stock and so on. But under the wing of Facebook — which acquired the company in 2014 for $19 billion — the company started the big task of bringing in a more formal set of business services.
That’s included the launch of WhatsApp Business, which lets SMBs post catalogues and stock links within the app, and advertisers on Facebook can create links through to their WhatsApp accounts. Now with payments, WhatsApp, which has amassed over 2 billion users, is finally taking a more comprehensive commercial plunge.
“Payments on WhatsApp are beginning to roll out to people across Brazil beginning today and we look forward to bringing it to everyone as we go forward,” the company said.
Users in Brazil will be able to use the payments service on WhatsApp to make purchases from local businesses without leaving their chat, the Facebook-owned service said.
“The over 10 million small and micro businesses are the heartbeat of Brazil’s communities. It’s become second nature to send a zap to a business to get questions answered. Now in addition to viewing a store’s catalog, customers will be able to send payments for products as well,” the company wrote in a blog post.
More to follow…
source https://techcrunch.com/2020/06/15/whatsapp-finally-launches-payments-starting-in-brazil/
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