WhatsApp Now Allows Users To Send And Receive Money For Free
Popular messaging app, WhatsApp has after a test phase in India finally launched its payment service to send and receive money without leaving your chats.
Making and receiving payment on WhatsApp have begun for the people in Brazil as of June 15th, 2020 the Facebook owned company made the announcement, and very soon it will be made available worldwide.
“We’re excited to announce that starting today we’re bringing digital payments to WhatsApp users in Brazil. People will be able to send money securely or make a purchase from a local business without leaving their chat” – WhatsApp Shared.
Payments on the platform will be made through Facebook Pay. And users must link their bank card to their WhatsApp account to perform transactions.
Transactions according to them is fully secured as they have built payments system with security in mind, and for that, a special six digit PIN or fingerprint will be required to prevent unauthorized transactions.
Sending or receiving money between individuals on Whatsapp has been made free, at least for now, who knows changes might be made in the future. But businesses will have to pay a 3.99% commission to WhatsApp similar to what they may already pay when accepting a credit card transaction.
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. Making payments simple can help bring more businesses into the digital economy, opening up new opportunities for growth.