WhatsApp just launched digital payments
Facebook has added digital payments to WhatsApp– a feature will let you transfer money and pay using the communications application.
Users in Brazil were the first to receive the new feature, which uses the encrypted messaging service to send money or make purchases. It is the first time that a payments platform has surfaced inside the app.
Probably the most direct comparison to WhatsApp is China’s WeChat – which has long had a payment system built-in. It is widely used in the country to date, with some employees being paid directly through the service.
"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," the service said at the launch.
Sending money or making payments is totally free for WhatsApp users; Facebook makes money by charging businesses a processing fee (similar to credit card transactions).
Digital Payments on WhatsApp will originally be tied to credit and debit cards, and will require pin codes or fingerprint verification.
WhatsApp now has 1.5 billion monthly users around the world.
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