Thu, Jun 18, 2020 11:00 AM by Sumit Bera

WhatsApp Launched Instant Payments

WhatsApp digital wallet
WhatsApp messenger launched fiat electronic payments.

According to an official WhatsApp blog press release, users with Mastercard or Visa debit/credit cards of certain Brazilian banks now have an opportunity to send messages attaching their assets. The amount of payments is limited to twenty per day, however, the transaction size limit is not specified.

There appeared a post by Mark Zuckerberg that WhatsApp instant payments are going to shortly be available in several other countries shortly. Payments are working on the Facebook Pay platform.

Facebook previously indicated that Facebook Pay is constructed on present financial instruments and collaborations and has nothing in common with Novi's wallet (former Calibra), which be operating on the Libra platform.

WhatsApp can use multiple systems for instant electronic transactions in various countries. To be more precise, in India, where the messaging corporation has been examining instant payments for quite a while, WhatsApp plans using a local solution – UPI, which might be connected with the requirements of Indian regulators.

In a very short time, WhatsApp is expected to support the Libra system, which is a wonderful solution different from current payments in the above-mentioned countries. So far Libra and Ton were prohibited in the USA, that’s why Facebook decided to launch crypto in the countries where a governmental currency is relatively weak.

Novi announcement as of May reports that a Facebook-based digital wallet will be included in WhatsApp service and the Facebook Messenger will operate for its own Libra stablecoins that stand for EUR, USD, GBP, as well as a multi-currency coin called LBR. This event is another Facebook step towards the development of its payment systems, which will be beneficial to Libra.

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