WhatsApp, Facebook’s popular mobile messaging platform, brings its WhatsApp Pay payment service back to Brazil, as announced by David Marcus on his Twitter profile, returning almost a year after his initial release, what was suspended seven days later by the highest monetary authority, the Central Bank of Brazil, alleging the lack of guarantees in its operation in accordance with the economic regulations of that country, and in the absence of a prior analysis before its launch.
It was at the end of last March when Facebook was finally able to obtain formal approval from the Central Bank of Brazil, after months of testing and analysis on a series of issues related to the service, to now take the next step.
For now, payments between individual users will be allowed
In this sense, the launch of WhatsApp Pay in Brazil will be gradual between individual users until reaching, throughout the second half of this year, all of the 120 million users that WhatsApp has in this market.
In this sense, In principle, customers with debit or prepaid cards from some of the most important banks in the country will be considered so that, over time, it will cover more financial services.
WhatsApp Pay will also have some usage limitations. In this sense, users will be able to send up to 1,000 reais per day, equivalent to about 155.37 euros, and they will be able to receive up to 20 transactions per day, with a maximum limit of 5,000 reais, equivalent to about 777 euros.
All transactions will be processed by Cielo, a Brazilian company specialized in processing payments. Facebook also plans to bring its new payment service to companies in that country in due course.
Concerns about the new terms and conditions
It is the circumstances that the Central Bank of Brazil itself also launched its own mobile payments between users, PIX, during the past month of November.
WhatsApp Pay resumption in Brazil comes at a time of growing privacy concerns (This is one of the aspects that took months of analysis) with the imminent entry of the new terms and conditions, for which even the regulatory body for the protection of consumers in that country has already raised several questions to a series of organizations in relation to privacy and data protection with respect to the new terms of service.
It will be a matter of time before the parent company begins to share official data about the level of adoption of the new service in that country.