Brazil Will Authorize Payments System for WhatsApp If Certain Norms Followed

July 25, 2020

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Brazil’s central bank will approve a payment system involving Facebook Inc’s WhatsApp messaging service, to send money and make payments via chats, as long as all rules are respected, director Joao Manoel Pinho de Mello stated on 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 and put on hold the newly launched WhatsApp payment service last month and said it is analyzing and rectifying whether the service can operate safely in terms of data protection and competition.