WhatsApp Now Facilitating Payments in Brazil

Facebook’s WhatsApp messaging platform is now facilitating payments in Brazil, according to a post by Facebook founder Mark Zuckerberg.

WhatsApp was acquired by Facebook (NASDAQ:FB) in 2014 for approximately $19.3 billion. WhatsApp is the world’s most popular messaging application with over 2 billion users worldwide.

Zuckerberg revealed the news stating the following on his Facebook page:

Today we’re starting to launch payments for people using WhatsApp in Brazil. We’re making sending and receiving money as easy as sharing photos. We’re also enabling small businesses to make sales right within WhatsApp.

To do this, we’re building on Facebook Pay, which provides a secure and consistent way to make payments across our apps. I want to thank all of our partners for making this possible. We’re working with local banks, including Banco do Brasil, Nubank, Sicredi as well as Cielo, the leading payments processor for merchants in Brazil.

Brazil is the first country where we’re widely rolling out payments in WhatsApp. More to come soon!2014 for about $19.3 billion. WhatsApp became the world’s most popular messaging application by 2015 and claims over 2 billion users worldwide as 2020.”

Of note, is the fact that Facebook initiated the Libra project that is an independent cryptocurrency entity but supported by Facebook. Libra was first launched as a global, non-sovereign digital currency but has since morphed into a possible stablecoin. Libra is designed to become a payment platform that one would assume would operate within the WhatsApp ecosystem.

 

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