You've successfully subscribed to Inclusion Times
Great! Next, complete checkout for full access to Inclusion Times
Welcome back! You've successfully signed in.
Success! Your account is fully activated, you now have access to all content.
Success! Your billing info is updated.
Billing info update failed.

Brazil Central Bank to Authorize Payments System Involving WhatsApp

Tochukwu Egesi
Tochukwu Egesi

Brazil's Central Bank has announced it will authorize a payments system involving Facebook Inc's WhatsApp messaging service, to send money and make payments via chats.

The go-live to the project is said to be conditioned by all rules being respected, according to the announcement made by the bank.

WhatsApp Payment

The central bank suspended the newly launched WhatsApp payment service in June 2020 when Brazil’s Central Bank stated that the suspension will let it evaluate any possible risk to the country’s system of payments, and to determine whether the payments system meets the necessary rules, as starting the service without the regulator’s approval could generate damage, especially regarding issues such as competition, efficiency, and data privacy, Bloomberg reported.

Tochukwu Egesi

Financial Services Strategy & Digital Economy Specialist (Scribing in Personal Capacity)