Technology is growing very fast making business transactions very easy across the globe. The latest development in the technology world is the possibility of doing cash transfers on your WhatsApp.
WhatsApp has added features on its system that will enable its users to send money and make payments without leaving the chat room
“Today we are starting to launch payments for people using WhatsApp. We are making sending and receiving money as easy as sharing photos. We are also enabling small businesses to make sales right within WhatsApp,” reads an update on Facebook CEO Mark Zuckerberg.
To make it possible Zuckerberg said they are building on Facebook Pay that will provide a secure and consistent way to make payments across their apps.
The service that is being rolled out in Brazil will be the leading payment processor foe merchants in the country as the developers are looking forward to working with the local banks in Brazil.
The company tested the payment system in India back in 2018 however the Brazil launch will be the first-ever nationwide rollout. The development will introduce the possibility of directly pay a business.
Currently, WhatsApp has over 20 million individual users in the South American country and it is its second-largest market after India.
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Most of Brazil’s SMEs already use WhatsApp for marketing and use it to answer questions or send catalogs.
“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,” reads a statement from Whatsapp.
The feature will not only allow customers to view the store’s catalog but also enable them to send payments for products. This will make payments simple hence bringing more businesses into the digital economy.
Since payments on WhatsApp are enabled by Facebook Pay, the app developer is planning to make it possible for both people and businesses to use the same card information across Facebook apps in the future.
The company said transactions on WhatsApp for individuals will be free while businesses will pay a processing fee to receive customer payments.
