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send and receive money between users directly in chats

WhatsApp payments have finally arrived, at least in Brazil. The Facebook subsidiary has started to roll out its payment system which will reach more regions and markets in the future. The idea behind this is simple: send and receive money between contacts and fully integrated with the app mail.

Just like announced whatsapp, payments access the application for users who are in Brazil. It’s a gradual version, so it’s not available to everyone from the first moment but will do so gradually.

The advantages of Facebook: no commission, secure and integrated

There are already quite a few mobile payment systems on the market and Facebook / WhatsApp is not the first to do so. However, from Facebook want to stand out by betting on a series of characteristics with which to succeed.

First of all, WhatsApp highlights the fact that payments between contacts in WhatsApp have no commissions. You send 20 euros and the other user receives 20 euros, there is no additional charge for any of them. Besides being instant payments, not like it can happen with interbank transfers that take hours or even days.

On another side wanted to emphasize that this is a safe and private service. Once the user registers the debit card or recharges the service, the money is always transferred between bank and bank, respecting the security standards required for banks. Likewise, transfers are private between users without anyone else being able to see them. Facebook says a security PIN can be set to prevent other people from making payments or viewing those already made.

Last but not least, is integrated with WhatsApp. Whatsapp is one of the most popular apps of all timeBy allowing its integration directly into the application, payments gain much more utility. Mobile payments often fail due to the other user not sharing the same platform or not having the current app installed. With WhatsApp, this is more difficult to achieve, as it is an app that almost everyone with a smartphone has installed (except in some parts of the world).

We’ll see if the service reaches more countries in the coming months. It will also be necessary to see how Facebook decides to integrate it with its payment system Facebook Pay and the controversial cryptocurrency Diem.

More information | WhatsApp

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