Brazil approves WhatsApp under Meta to provide merchant collection service

The Brazilian Central Bank approved on Thursday that Meta provides payment services to Brazilian SMEs through the instant messaging application WhatsApp.This new service is based on WhatsApp’s existing local peer-to-peer payment system.

At present,Meta is testing its corporate communications service through the Brazilian market.Due to the stagnation of Meta’s core advertising business growth,this new business area is becoming more important.

Since 2021,WhatsApp users in Brazil have been able to make payments and transfers between users through this application.The new service approved this time cleared the obstacles for merchants to collect money.

Guilherme Horn,head of WhatsApp’s Latin American market,said on LinkedIn:”Soon,WhatsApp users can use MasterCard and Visa’s debit and credit cards to purchase products and services directly in the conversation.”

Shortly after the approval of the Central Bank of Brazil,Mark Zuckerberg,chief executive of Meta,also said in his Instagram radio channel:”People will be able to pay small merchants in WhatsApp.”