When we read that WhatsApp is going to incorporate payment options in their chats, to send or receive money, it seems that all the problems are limited to a technical issue. To that the app is able to do it but, once achieved, “wide is Castilla”. The point is that we almost always forget that this banking sector is regulated and that there are higher bodies they must give their consent and approval.
And something like this has happened with WhatsApp and its payments in Brazil, which were launched on June 15 and the Central Bank of that country has ordered to close it completely, preventing those of Mark Zuckerberg from continuing to exploit this new way of business. Specifically, the authorities have requested VISA and MasterCard to withdraw since behind this decision there are suspicions of “anti-competitive nature” by Facebook.
The Central Bank of Brazil, in its statement, comes to affirm that its performance is due solely and exclusively to the objective of preserving a “competitive environment” where payment systems are “interoperable, fast, safe, transparent, open and comfortable”. And it is not to be forgotten that, along with India, the South American country is the second with the most WhatsApp users worldwide.
WhatsApp will try to resort
Given this decision, there is an appeal so we will have to wait to see what they allege from Facebook to get out of the pitfall. Without a doubt, this problem that arose in Brazil is not only important due to the size of the market in which it occurs, but also because could serve as a “warning to mariners” for other governments and agencies to put their magnifying glass in a payment service that could engulf everyone else.
At the end of the day, and regardless of the objections caused by WhatsApp to allow you to pay through your chats, there is a problem that the messaging app should have alerted the authorities of the launch of this service and they have not, especially when we talk about a regulated market and subject to strict control standards.
Be that as it may, from WhatsApp they have declared that “We will continue to work with local partners and the Central Bank to make this (payments through their chats) possible. Furthermore, we support the Central Bank’s PIX project on digital payments and, together with our partners, we are committed to working with the Central Bank to integrate our systems when PIX is available. “