WhatsApp is back rolling out its payment service in Brazil, after the service was suspended by the Brazilian central bank in June 2020, a few days after it was launched there. Facebook CEO Mark Zuckerberg made the announcement in a video that aired in Brazil, where he talked about how the payment information added to WhatsApp can also be used on Facebook and Instagram.
According to David Marcus the head of Facebook Financial, the service returning to Brazil will be part of a “ gradual rollout, ” but it looks like the company is serious about making a return: it has already posted a video promoting the service, and published a page stating that the underlying Facebook Pay system has been authorized by the Central Bank (Facebook is WhatsApp’s parent company).
When the service was originally launched in Brazil, the country’s central bank suspended it over concerns about competition in the payment systems market. The bank said it plans to evaluate whether the service complied with regulations, despite Facebook saying it had been in contact with the authority before launch.
The time had come at the end of March of this year reported by Reuters that the bank approved the service after Facebook received formal approval to make payments. According to a press release, WhatsApp users can connect debit, prepaid or combination cards from various banks that work with their payment processor.