If you want to know everything about the new payment methods through WhatsApp, do not stop reading, because they are finally available in Latin America.
Payments through WhatsApp, the most used instant messaging app in the world, began to develop since 2018; when the idea came up and a test application started to be used in India. And now, it has been announced that this method It has finally arrived in Latin America, with Brazil being the first country to release it.
This new service of WhatsApp is linked with Facebook Pay and it has first arrived in Brazil thanks to the fact that this is a country with a large market. To later take it to the rest of the world, including Mexico; where you can enjoy both WhatsApp and Facebook thanks to the unlimited social networks that your Friend Kit and #LaRedDeTusEmociones
Best of all, the payments through WhatsApp They will be a useful tool both for businesses and companies and for anyone. If you want to know more about them, here we share all the information that is known so far.
What can be done through WhatsApp payments?
First of all, transactions can be made between accounts of family and friends; be it to give loans, pay some debt or in some case of emergency.
On the other hand, you can also make payments to businesses from the application, in a simple, fast and secure way. The goal is to make these transactions as easy as sending a text message; this is how he defined it Matt Ifema, director of Operations for WhatsApp.
“We are very excited to bring WhatsApp payments to our users throughout Brazil. Making sending and receiving money easier couldn’t be more important than a moment like this. ”
What will be the payment limits on WhatsApp?
It is said that for now the transaction limit, either to receive or send money, will be no more than $ 4,300 pesos; with the opportunity to make 20 transactions per day. While $ 22,000 pesos and the use of debit and credit cards will be allowed monthly.
How will payments through WhatsApp work?
As a first step, you must create an account in Facebook Pay and WhatsApp Business to receive payments from any type of card and that both accounts are linked.
In addition, the company specified that for transactions between friends and family there will be no commission. However, for transfers between businesses, there will be a 3.99% commission.
What will this new tool look like within WhatsApp?
For now, users in Brazil are the only ones who will be able to enjoy payments through the application, but little by little it will spread to more parts of Latin America. This is how a video in Portuguese was shared that explains how this new tool will look within the app, which will be added in the shared documents options such as “Payments”.
Several layers of security have been added to this new function, such as entering a PIN or fingerprint constantly, to authorize transactions.