WhatsApp Pay feature was previously rolled out in the country by WhatsApp Inc. but was blocked by the Central Bank of Brazil (CBB).
Merely a year after the first stumbling lunch the company has relaunch its payment feature again in the country.
Last year Brazil served as the the starting point for WhatsApp payment feature before gradually rolling out to India few months after but the Central Bank forced the suspension of the service.
However, this month of March 2021, the banking authority gave WhatsApp Inc. the approval to facilitate VIsa and MasterCard backed peer-to-peer payments option.
After deep consideration of the feature and checking if the payment feature surpasses all security leak as well as rules on competition as well as efficiency and data privacy.
Report earlier published, shows WhatsApp Inc. has made series of attempts to avoid being categorized under financial service company depending on Visa’s and Mastercard’s license banks
The payment processors were subjected to suspend all monetary transactions through the Social App which further subjected the Facebook owned company to secure a new license.
Meanwhile while the payment service as been rolled out again in Brazil, its not expected to be available to everyone at the moment these once will have the privilege of inviting other users to join in the service.
WhatsApp Pay Users will have the leverage of sending up to BR5k (Brazilian Real) ($918) per month to friends and family free of charge, all single transactions are subjected to BR1k limit and cannot exceed 20 transfers per day.
The company can only process peer-to-peer transfers currently however, the feature was primarily introduced to help small merchant users just like the recently launched Telegram Pay feature .
Small businesses in Brazil and India have been using WhatsApp as their primary means of online awareness and this new feature is to help them easily accept digital payments.