After months of planning, WhatsApp finally introduced digital payments. WhatsApp users in Brazil will be able to send money securely or make a purchase from a local business without leaving their chat.
What’s the big deal: Facebook-owned WhatsApp is enabling its 120 million Brazilian users to send money to one another.
- WhatsApp payments are intended to be used to buy things from merchants as well as send money P2P.
- Behind the scenes, WhatsApp uses Facebook Pay to send and receive money.
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“In my opinion, the WeChat model is the best business out there - you can hail a cab, book a doctor’s appointment, make a dinner reservation and buy a car, all on your phone. I think Facebook is looking at a comparable opportunity with this announcement around WhatApp payments in Brazil, and I believe this is only the beginning. ”