The Central Bank of Brazil suspends digital WhatsApp payments.
Angela Lang / CNET
The Brazilian Central Bank suspended WhatsApp digital payments a week after the launch of the function in the country. The bank ordered Visa and Mastercard to suspend payments and money transfers through the app or risk fines.
With this decision, the Central Bank aims to “preserve an adequate competitive environment that guarantees the operation of an interoperable, fast, secure, transparent, open and economic payment system,” according to a translation of a note published on the website of the Bank.
The bank said that the suspension will give it time to verify that WhatsApp’s digital payment function does not threaten the country’s payment systems and comply with the necessary rules.
WhatsApp brought digital payment to Brazil last week with the goal of allowing people to send money safely and easily through Facebook Pay, an online payment service that the social media giant announced late last year. .
“Our goal is to provide digital payments to all WhatsApp users in Brazil using an open model and we will continue to work with local partners and the Central Bank to make this possible,” a WhatsApp spokesperson told Bloomberg on Tuesday.
WhatsApp did not immediately respond to a request for comment.
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