for users in Brazil last June, but it was quickly removed amid concerns from the country’s central bank. The Facebook-owned messaging app received approval for in-app money transfers from the bank Tuesday and will be up and running soon according to a report from Reuters.
WhatsApp users in the country will be able to send each money transfers using Visa or Mastercard as processors. The feature will be limited to peer-to-peer payments only and will not be able to make purchases at a business.
“[We] are making the final preparations to have payments on WhatsApp available in Brazil as soon as possible,” a WhatsApp spokesperson said in a statement to Forbes.
The initial concerns from Brazil’s central bank centered on WhatsApp not being recognized as a financial services company and that its usage could bring up anti-competitive and data privacy issues.
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