sending and receiving money between users directly in the chats

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

As WhatsApp has announced, payments reach the application for users who are in Brazil. It is a gradual release, so it is not available to everyone from the first moment but will do so gradually.

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There are actually quite a few mobile payment systems on the market already and Facebook / WhatsApp is not the first to do so. However, from Facebook they 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 do not have commissions. You send 20 euros and the other user receives 20 euros, there are no extra charges for any of them. In addition to the fact that they are instant payments, not as can happen with transfers between banks that take hours or even days.

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On the other hand they wanted to emphasize that it 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 that a security PIN can be placed to prevent others from making payments or viewing those already made.

Finally and perhaps most importantly, is integrated into WhatsApp. WhatsApp is one of the most popular apps everBy allowing its integration directly into the app, payments gain much more utility. Mobile payments are often unsuccessful due to the fact that the other user does not share the same platform or does not have the current app installed. With WhatsApp that is more difficult to happen, since it is an app that practically everyone with a smartphone has installed (except for some regions of the world).

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We will 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