1 August 2021
Money transfer era with WhatsApp is beginning!

Money transfer era with WhatsApp is beginning!

Popular instant messaging platform WhatsApp has rolled up its sleeves to popularize the money transfer feature. Thanks to this feature, which is currently in effect in India, 200 million users in the country can send and receive money to each other. The new stop of the company, which wants to offer the feature to more users, has been announced.

That country allowed the WhatsApp money transfer feature

Facebook, which wanted to launch WhatsApp Pay in Brazil in early 2020, was blocked by the country’s Central Bank. The Brazilian Central Bank had said that the feature should be closed. He had also warned Visa and Mastercard to suspend WhatsApp Pay. However, the crisis between Facebok and the Brazilian Central Bank has been resolved.

whatsapp money transfer

According to the information shared, the Central Bank gave permission to Facebook. Brazilian users will now be able to transfer money to each other via WhatsApp. WhatsApp, which has added a special guide to its official site, helps users about how to make a money transfer. informed. He also underlined that the feature will be protected by end-to-end encryption technology.

In fact, the only purpose of Facebook in developing WhatsApp Pay feature is not money transfer. The company wanted to integrate this function into the Shopping feature it added to the application. In this way, users would be able to purchase products directly on WhatsApp. However, it was learned that the Brazilian Central Bank does not allow this for now. In other words, users will only be able to transfer money to each other.

WhatsApp Pay spreads

After purchasing WhatsApp, Facebook developed the platform with innovations that will increase the quality of use. Among these innovations, a feature called WhatsApp Pay joined in 2018. The feature that allows users to send and receive money as if they were sending each other a message was first introduced in India.

Facebook is not only experiencing problems with the WhatsApp money transfer feature in Brazil. The company had to grapple with similar problems when testing WhatsApp Pay in India.

WhatsApp money transfer feature will not be limited to Brazil and India. The platform, which has 1 billion active users per month, is expected to activate its feature in other countries. However, the similar problems in both India and Brazil show that the same events will occur in the next countries.

Do you find mobile payment services like WhatsApp Pay safe? You can share your thoughts about the importance of these services in your life in the comments below.

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