Meta gets green light to launch WhatsApp merchant payment system in Brazil
Meta (META) gets green light to launch WhatsApp merchant payment system in Brazil
META
+6.14%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
By Michael Elkins
Brazil’s central bank, on Thursday, approved the launch of Meta Platforms’ (NASDAQ:META) payments for small and medium-sized businesses in Brazil via its messaging application WhatsApp. The approval builds on the platform’s already existing local peer-to-peer payment system.
The approval comes as Meta seeks to use the Brazilian market as a key test space for business messaging, an area that has assumed greater urgency as Meta’s core advertising business has stalled.
«Soon, WhatsApp users will be able to pay for products and services directly in a conversation with Mastercard (NYSE:MA) and Visa (NYSE:V) debit and credit cards,» Guilherme Horn, head of WhatsApp Latin America, said in a Linkedin post.
Shortly after the central bank’s greenlight, Meta’s chief executive Mark Zuckerberg said on his Instagram broadcast channel that «people will be able to pay small businesses right on WhatsApp».
«Excited to roll this out soon,» Zuckerberg said.
Shares of META are up 5.82% in mid-day trading on Friday.