Brazil’s central bank, Banco Central do Brasil (BCB), has licensed the use of WhatsApp for initiating fund transfers.
WhatsApp attempted to launch the transfer service last June, but the bank said that licencing the service could negatively impact the country’s existing payments system.
The BCB launched its own instant payments service ‘Pix’ last year, which has reportedly been widely adopted by Brazilian customers.
The bank’s authorisation is related to the use of the messaging service for fund transfers between cardholders from Visa and MasterCard and is part of the Facebook Pay program.
It said that the licenses “don’t contemplate Visa and MasterCard applications for the usage of
WhatsApp under their traditional card schemes, involving purchases in local merchants, which remain under analysis by the BCB.”
The BCB said it believes that the licenses granted may “bring new perspectives of cost reduction for users of payment services.”
Latest News
-
Beermaker Asahi restarts production in Japan following cyberattack
-
BT to roll out 5G standalone to 99% of UK by 2030
-
Firefly acquires SciTec in deal worth $855m
-
Asos launches immersive video shopping on app
-
ECB taps Portuguese start-up to build AI fraud shield for digital euro
-
Samsung partners with Coinbase for crypto services
The future-ready CFO: Driving strategic growth and innovation
This National Technology News webinar sponsored by Sage will explore how CFOs can leverage their unique blend of financial acumen, technological savvy, and strategic mindset to foster cross-functional collaboration and shape overall company direction. Attendees will gain insights into breaking down operational silos, aligning goals across departments like IT, operations, HR, and marketing, and utilising technology to enable real-time data sharing and visibility.
The corporate roadmap to payment excellence: Keeping pace with emerging trends to maximise growth opportunities
In today's rapidly evolving finance and accounting landscape, one of the biggest challenges organisations face is attracting and retaining top talent. As automation and AI revolutionise the profession, finance teams require new skillsets centred on analysis, collaboration, and strategic thinking to drive sustainable competitive advantage.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories