Thhe popular mobile messaging app WhatsApp, which is working under the rule of Facebook, has decided to launch E-payments, according to TechCrunch.
The first target country would be brazil for this launch since it’s the second-highest user of WhatsApp after India.
WhatsApp e-payment to be launch in Brazil first:
WhatsApp was bought by Mark Zuckerberg in 2014, and would now be able to allow its users to send money by just a click. Prior to this, the same feature was introduced by Facebook via Messenger. The company has decided to roll out this feature first in Brazil because of its massive use in Brazil, with over 120 million individual users in Brazil.
Matt Idema, the chief operating officer of WhatsApp, said of Brazil;
We think we can help grow digital payments, help grow the digital economy with small businesses, and help support financial inclusion
WhatsApp e-payment to be spread-out later worldwide:
This service would be significantly profitable during this time because of the pandemic. In the current scenario, markets and businesses are suffering and this e-payment would allow buyers and sellers to fulfill their needs and boost the economy, just as Idema said;
We can’t have the kind of interactions with each other that we normally would, if you want to lend someone cash or if you want to buy something from a local business
Initially, WhatsApp tested the payment service in India, but it will be launched in Brazil first. The payment system would proceed through Facebook Pay where it would be free for individual users but would charge a small transaction fee for businesses.
The company plans to initiate this service first in those countries that are heavy WhatsApp users like Mexico, Indonesia, and India, before launching it worldwide.