Facebook’s WhatsApp Brings Digital Payment to Users in Brazil
WhatsApp is working with Cielo, Brazil’s largest credit and debit card operator, to process the payments. The news sent Cielo’s shares soaring 30% on a day when stocks worldwide, including in Brazil, were in red due to fears of a second coronavirus wave.
WhatsApp tested the system in India beginning in 2018. The Brazil launch will be the first nationwide rollout and will introduce the ability to directly pay a business.
The company has over 120 million individual users in Brazil, its second-largest market behind India.
Photo courtesy of Betshy.
Source: Reuters (link opens in a new window)
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