One week after launch of the Whatsapp Pay service by the firm of Mark Zuckerberg (photo) in Brazil, the country’s authorities have just stopped him.
According to the trade press, the central bank of Brazil and the local regulator Cade have ordered the suspension of financial transactions via WhatsApp as part of an investigation into the threats that the application represents for the national payment system.
Brazil: more than 1,000 deaths from coronavirus in 24 hours
As part of this decision, Visa and Mastercard, who acted as intermediaries for the transactions, were asked to stop the transaction or receive fines and administrative penalties.
According to a statement by the central bank, the functioning of the service now depends on the result of a more in-depth analysis: “the motivation of the central bank for this decision is to preserve an adequate competitive environment, which ensures the functioning of a system of interoperable, fast, secure, transparent, open and inexpensive payment, ”she said.
How to find out who visited your Facebook and WhatsApp profile?
The institution notes that the start-up or continuity of the service without prior regulatory analysis “could generate irreparable damage” to the Brazilian payment system, in particular with regard to competition, efficiency and confidentiality of data.
A new scam is circulating on the WhatsApp application
Starting with its second largest market after India, where WhatsApp has more than 120 million monthly users, the owner of the messaging application, Facebook, has planned to deploy the payment function throughout his family. applications. The service was launched in Brazil in partnership with Visa and Mastercard, the local credit company Sicredi, the Brazilian banking giant Banco do Brasil and its challenger Nubank, as well as the payment actor Cielo.
–
