You can Now Send and Receive Money Through WhatsApp if You Live in This Country

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The WhatsApp payment system announced on 2018 is expected to launch late last year, but has been delayed. But now you can safely send and receive money via WhatsApp in chat with family, friends and companies, if you live in Brazil.

The WhatsApp payment system will allow you to send money to friends and family via SMS. WhatsApp payment is developed with Facebook Pay and allows you to effortlessly send money to friends and family.

According to WhatsApp, the payment was built with security, and a six-digit PIN or fingerprint will be required before transactions can be completed. This is to prevent unauthorized transactions.

At the moment, WhatsApp payment is supported by Visa and Mastercard debit and credit cards from Banco de Brasil, Nubank, and Sicredi. WhatsApp also says it is working with Cielo, Brazil’s leading payments processor, and has built an open model to make it easy for more partners to join in the future.

The good news is that the payment via WhatsApp doesn’t attract a charge when you send or receive money save for businesses that will have to pay a processing fee to receive payments from their customers.

Sending money or making a purchase on WhatsApp is free for people. Businesses will pay a processing fee to receive customer payments, similar to what they may already pay when accepting a credit card transaction.

The service is already rolling out to users and should arrive for everyone in the coming weeks.

No word yet on when the payment feature will roll out to more countries but we are hoping it will roll out to all countries soonest. Do you think this will be a better alternative to PayPal?

Source: WhatsApp

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