WhatsApp Digital Payments Are Launching in Brazil

2020-6-17 15:37

Coinspeaker
WhatsApp Digital Payments Are Launching in Brazil

WhatsApp digital payments are set to start in Brazil. The messaging service indicated this on its website. The introduction of this feature will enable people to make purchases within their chats. Whatsapp went further to state that ” over 10 million small and micro-businesses are the heartbeat of Brazil’s communities”.

This comes as Facebook Inc‘s (NASDAQ: FB) Libra project is facing scrutiny and distrust from governments.

WhatsApp also said that its digital payments feature is powered by Facebook Pay. Facebook Pay is the social networking giant’s highly successful attempt at making payments between users. The payment service has also been seen by many as a route for increased cash flow for the social networking giant.

Mark Zuckerberg also introduced WhatsApp Digital Payments. He said in a post:

“We’re working with local banks, including Banco do Brasil, Nubank, Sicredi as well as Cielo, the leading payments processor for merchants in Brazil”.

Zuckerberg also indicated that Brazil is the first country that will have this feature.

WhatsApp Digital Payments Are Set to Enable Further Inclusion

Brazil has been one of the countries that have been at the forefront of the digital payments revolution. With about 26.5% of its population living in poverty, digital payments are one of the ways to create financial inclusion. It also changes the way banking activities occur.

Though digital payments come with their issues, they are still seen as the future of banking.

Whatsapp digital payments have two security features. A six-digit PIN or a fingerprint scan is required for transaction confirmation. Credit cards will start from Banco De Brasil, Nubank, and Sicredi. Both Mastercard Inc (NYSE: MA) and Visa Inc (NYSE: V) options will be available. Payment processing will occur through Cielo. Cielo is the top payment processor in Brazil.

WhatsApp has also indicated that its technical framework has an allowance for the addition of partners in the future.

Innovations Will Boost Adoption

In a reversal of the regular business model, payments sent by users free. Businesses have to pay a small fee for the receipt of funds. This is a significant step that enables the increase in inclusion and adoption.

The cost of transfer (COT) on a normal day is borne by the sender of funds. This burden shows that the sender has what it takes to make remittances. By reversing this, Whatsapp has been able to create a strategic advantage that most mobile payments providers don’t have.

Services are expected to start today. This will be a watershed for many people who have wondered how Mark Zuckerberg and his team of innovators will monetize WhatsApp.

Since the 2014 acquisition, WhatsApp’s two billion-plus user database can be monetized. The revenue generated hasn’t made any hits so far on Facebook’s (FB) bottom line. This may change however with the introduction of this feature, money flows will enable just about anybody to do business on the go.

It is also another welcome addition to the fintech space. As technology evolves, so will payments. Personalization of payments is the key as the world seemingly becomes smaller. The wizard of Menlo park seems to have his hands on another new formula. Let’s see how this goes.

WhatsApp Digital Payments Are Launching in Brazil

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Digital Rupees (DRS) на Currencies.ru

$ 6.38E-5 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $6.38E-5 - H: $6.38E-5
Капитализация $32.611k Rank 99999
Доступно / Всего 510.803m DRS

payments digital whatsapp launching brazil starting introduced

Источник: coinspeaker.com

payments digital → Результатов: 126


1X Exchange Lists ETH Security Token, Aggregate Asset Management (AAM), in Singapore

1X crypto exchange is heading to Singapore, where it aims to conquer the market and offer digital asset investors an array of digital token-fiat trade pairs. With plans to concentrate on supporting digital security tokens of private firms, the platform will permit payments made using the local currency. Basically, the exchange is confident that this […]

2019-7-12 20:07


Libra and others that follow it will establish exchange relations with major currencies, says former PBoC Governor

With Bitcoin getting mainstream recognition, there has been a lot of institutional onboarding into digital assets. Giants like Facebook, J. P. Morgan, Amazon, Alibaba, Microsoft, and others from all industrial sectors have started to look towards these assets as something that could potentially help solve problems in existing systems, ranging from payments, transfer of value etc.

2019-7-10 17:30


Xeonbit Tokens Explained In Detail

Xeonbit is one of the first private digital currencies for secure payments guaranteed to provide its holders with security and privacy features that no other network can offer. This unique project offers a top-notch blockchain that uses a special technology called “ring signatures” which shuffles users’ public keys in order to eliminate the possibility to […] The post Xeonbit Tokens Explained In Detail appeared first on NullTX.

2019-7-10 19:41


xRapid User Fleetcor Acquires a Payroll Card Provider; Will This Move Ripple into SMB Territory?

Fleetcor Technologies announced the acquisition of SOLE Financial, a payroll card provider that enables instant and affordable wage access for workers, on July 8. The leading global business payments company will combine SOLE with its existing digital paycard business and increase the overall addressable market for the company. “SOLE is a good strategic fit with […]

2019-7-9 16:45


Blockchain technology ‘not suitable for payments,’ says Bank for International Settlements’ Annual Report

The recent Bank for International Settlements report has stated that cryptocurrency’s backbone, blockchain, might not be “suitable for payment at all. ” Referring to the market’s 2018 crypto-winter when prices fell to new lows, the report stated that regulatory action has a significant impact on digital assets’ valuation, transaction volume, and user base.

2019-7-1 16:00


Фото:

Goldman Sachs might launch its own ‘cryptocurrency’ – just like JP Morgan

American banking giant Goldman Sachs might be following in the footsteps of its competitor JP Morgan. The bank is considering launching its own cryptocurrency. In an interview with French financial newspaper Les Echos today, Goldman Sachs CEO David Solomon said that they are doing extensive research on the concept of “tokenization.

2019-6-29 16:09


Фото:

RippleNet Expands Network in Asia by Adding Korean Payment Group Coinone

SBI-Ripple Asia, a joint venture of SBI Holdings and the United States Ripple company, expands its network in Asia. Coinone Transfer, a payments business and a subsidiary of Coinone, a major digital currency exchange of South Korea, joined RippleNet, a network of institutional payment-providers including banks and money services businesses provided by Ripple.

2019-6-18 15:00


Zilliqa Teams Up With Payments Platform Xfers to Bring Blockchain Benefits to Southeast Asia

Coinspeaker Zilliqa Teams Up With Payments Platform Xfers to Bring Blockchain Benefits to Southeast AsiaPublic blockchain platform Zilliqa announced a partnership with Xfers. This will bring new innovations to Xfers’ enterprise solutions, including support for payments, regulatory compliance, a built-in digital wallet, etc.

2019-6-18 14:10


Remittance Innovation in ASEAN Is Changing Lives for Workers Living Abroad

The Association of Southeast Asian Nations (ASEAN) continues to make its case as one of the world’s most exciting testing grounds for blockchain, cross border payments, and digital assets. Ripple has been part of much of this pioneering work with partners like SBI Remit, CIMB Group, Siam Commercial Bank, Mitsubishi Corporation and Standard Chartered, the … Continued The post Remittance Innovation in ASEAN Is Changing Lives for Workers Living Abroad appeared first on Ripple.

2019-6-20 00:17


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

SEC предъявляет обвинения в мошенничестве промоутерам NovaTech, предположительно создавшим крипто-пирамиду на сумму 650 млн долларов

Комиссия по ценным бумагам и биржам (SEC) утверждает, что схема привлекла деньги от более чем 200 000 инвесторов по всему миру, многие из которых были гаитянскими американцами, после аналогичного иска, поданного в июне генеральным прокурором Нью-Йорка.

Meta Dismisses WhatsApp Ads Reports

Coinspeaker Meta Dismisses WhatsApp Ads Reports WhatsApp has a user base of over 2 billion people worldwide and analysts have predicted that it will eventually take advantage of this and monetize the service. Meta Dismisses WhatsApp Ads Reports