Whatsapp: App will allow you to send and receive payments

[bitheerani90]

WhatsApp will allow you to send and receive money through the app! Brazil will be the first country to be able to use this new feature.
You will need to register your debit card to make transfers and there will be no costs for users.

WhatsApp announced on Monday (15) that Brazil will be the first country to receive a special update to the app that greece mobile database allow users to make and receive payments using registered cards. The new feature will also allow WhatsApp Business accounts to receive payments for products and services , but they will pay a fee for the service.

The feature will be available in Brazil in the coming weeks, and according to WhatsApp, you will need to register a card with the debit function to make transfers.

Payments are made through a feature called Facebook Pay. The social network that owns Whatsapp also owns Instagram.

In a statement, WhatsApp announced that the feature has this name so that, in the future, the same card data can be used across the company's entire family of apps — signaling that Facebook plans to expand payment functions to other apps.

WhatsApp is not the first to expand a messaging app into an electronic transfer system. In China, WeChat was responsible for a revolution in the way people pay in the country and is now a social network and a sales platform.

According to WhatsApp, Brazil was chosen first because it is one of the most used applications in the country, both by individuals and businesses. The app also stated that digital payments can support economic development in Brazil, stimulating innovation and facilitating the transfer of money between people.

“We know that local users love WhatsApp and we understand that providing this feature can help accelerate awareness and adoption of digital payments,” a spokesperson said.

How will it work?
In order for users to send and receive money via WhatsApp, they will need to register a card with the Facebook Pay feature. Here's how it works:

There will be a function, in the same menu for sending images, called “Payment”;
When the user clicks on it, the application will ask for an amount and redirect to create an account;
You will need to accept the platform's terms of use and create a 6-digit numeric password;
Afterwards, the user will need to include their name, CPF and a card issued by one of the partner banks ;
You will need to verify your card with your bank, which will send you a code via SMS, email or the bank's own app. This code is used to prevent the registration of stolen cards, for example.
According to WhatsApp, the use of a password or biometrics will be required every time the user sends money. Card information is encrypted for user security .