Brazil Authorized the Payments System for WhatsApp if Rules are Respected

Brazil Authorized the Payments System for WhatsApp if Rules are Respected

Brazil’s central bank will authorize the payments system involving Facebook Inc’s WhatsApp
messaging service, to make payments and send money via chats, as long as the rules are
respected, director Joao Manoel Pinho de Mello confirmed this Monday.

“We view the entry of ‘big tech’ as a huge opportunity. Everyone can participate. We will allow it, no problem. People can take whatever path they want, (do) whatever initiatives they want,” as long as rules are met, he confirmed during a live online event hosted by the Genial Investimentos.

The central bank suspended the latest WhatsApp payment service launched last month and
said it is still analyzing whether the service can safely operate in terms of data protection and competition.

To Read More: Reuters

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