WhatsApp launches digital payments on the app for buying and selling

WhatsApp Messenger, a freeware messaging application, has announced the launch of a digital payments platform to the application for its users.

With this new digital payment system on the application, users will be able to send money securely or make a purchase from a local business without leaving their chat, says Whatsapp on its news blog.

The blogs says 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.

However, the Whatsapp blog says the new development is first made available to its users in Brazil.

“The over 10 million small and micro businesses are the heartbeat of Brazil’s communities. It’s become second nature to send a zap to a business to get questions answered. Now in addition to viewing a store’s catalog, customers will be able to send payments for products as well. Making payments simple can help bring more businesses into the digital economy, opening up new opportunities for growth.

“In addition, we’re making sending money to loved ones as easy as sending a message, which could not be more important as people are physically distant from one another. Because payments on WhatsApp are enabled by Facebook Pay, in the future we want to make it possible for people and businesses to use the same card information across Facebook’s family of apps,” the company says.

Regarding the security of the payment system, Whatsapp says it has built payments with security in mind and a special six digit PIN or fingerprint will be required to prevent unauthorized transactions.

“To start, we will support debit or credit cards from Banco do Brasil, Nubank, and Sicredi on the Visa and Mastercard networks -and we are working with Cielo, the leading payments processor in Brazil. We have built an open model to welcome more partners in the future.

“Payments on WhatsApp are beginning to roll out to people across Brazil beginning today and we look forward to bringing it to everyone as we go forward,” it says.

WhatsApp Messenger, or simply WhatsApp, is an American freeware, cross-platform messaging and Voice over IP service owned by Facebook, Inc. It allows users to send text messages and voice messages, make voice and video calls, and share images, documents, user locations, and other media.

About the Author: Success Kafoi

Success Kafoi is a technology oriented Nigerian Journalist, with penchant in ICT development and technology innovation. You can reach him on success@naijaaffairs.com

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