Technology

WhatsApp in talks to get approval from Brazil's Central Bank as payment initiator

WhatsApp said it is regularly talking to the Central Bank to get approval as a payment initiator for transfers between people

Image: Screenshot
  • WhatsApp informed that is talking with Brazil’s Central Bank to get approval as a payment initiator for transfers between people;
  • WhatsApp had its payment services suspended by the regulator in June, a few days after it launched.

After having its services suspended by the Brazilian Central Bank back in June, WhatsApp Pay, the payments solution of the popular messaging app WhatsApp is in talks with the country regulator to operate as a payment initiator, the company informed LABS.

WhatsApp is regularly talking to the Central Bank to get approval as a payment initiator for transfers between people,” WhatsApp said in a memo. “It has also been working to restore payments on WhatsApp to everyone in Brazil as soon as possible.”

READ ALSO: Rappi focuses on user experience and also starts to serve via Whatsapp

Approved by the Central Bank in October, this payment modality allows consumers to ask for the institution where they are account holders to make the payment directly to the merchant or store, without having to access the app and having the amount debited directly from their accounts. Mediators, such as credit cards, are excluded.

Get the best insights about Latin America market in your inbox