WhatsApp easily can be said the most used messaging platform in the recent times. Until today, WhatsApp has more than one billion active users. For countries like Brazil, there are millions of active users who uses WhatsApp daily. Today, Facebook is rolling out WhatsApp digital payment to Brazil only.
If you are in Brazil then you can start to send or receive money through WhatsApp. This announcement was made by Facebook founder Mark Zuckerberg on his Facebook page. Following after that, WhatsApp made an official announcement in its blog. According to Mark, this feature will be using Facebook Pay. Back in 2019, Facebook launches Facebook Pay where you can easily send or receive money from your friends. You can even buy items using the Facebook Pay.
Now by bringing the Facebook Pay to the WhatsApp, small businesses can start to receive payment easily within just a few clicks away. According to Facebook, it is planning to roll out this feature to all WhatsApp users worldwide. However, there are some regulations which they need to follow before rolling out in other countries. It looks like Brazil will be the first country to pilot this feature.
Apart from that, sending money will super easy because it will be similar to sending a message to your loved ones. So in the future, if you are planning to send money to your parents, you don’t have to login to your banking app and transfer. You can simply tap and then send money. For security wise, WhatsApp will be requiring you to enter either a six digit PIN or use your fingerprint to make a transaction.
In conclusion, this feature surely will be increasing the growth of small business owners. Well, this feature is not available in Malaysia at the moment. But thinking of the financial compliances which Facebook needs to follow might cause WhatsApp to take longer time to roll out this feature in Malaysia. We are looking forward to trying this feature once its available in Malaysia.