technology

Brazil authorized money transfers via WhatsApp

This post is also available in: Português (Portuguese (Portugal))

The Central Bank of Brazil authorized the operation of WhatsApp Pay in the country, thus allowing users of the app to transfer money between themselves.

WhatsApp Pay started being launched in Brazil in 2020, and at that time the Central Bank of Brazil decided to temporarily suspend functionality due to fears of anti-competitive practices. Facebook started by launching WhatsApp Pay without any authorization to operate as a financial institution, since the transfer of funds depends on MasterCard or Visa cards.

The fears of the Central Bank of Brazil may have been answered by the launch in the country of a new payment system for mobile devices integrated with all banks, Pix.

WhatsApp is the most used messaging app in Brazil, with more than 120 million users.

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