Today, Whats App announced that users in Brazil would be the first to be able to send and receive money by way of its messaging app, using Facebook Pay.
WhatsApp says in its blog post that the payments service — which currently is free for consumers to use (that is, no commission fee taken) but businesses pay a processing fee to receive payments — will work by way of a six-digit PIN or fingerprint to complete transactions.
You use it by linking up your WhatsApp account to your credit or debit card, with initial local partners including Banco do Brasil, Nubank, and Sicredi. Cielo, a payments processor, is also working with WhatsApp to complete transactions. “We have built an open model to welcome more partners in the future,” it noted.
Whats App Announcement: https://blog.whatsapp.com/bringing-payments-to-whatsapp-for-people-and-small-businesses-in-brazil
