Oh no! WhatsApp’s most exciting feature in years just got SUSPENDED
Out of nowhere, WhatsApp has been slapped with a huge setback. A feature they’ve been prepping for years was suddenly hit with a major roadblock. The Facebook-owned messenger saw the arrival of WhatsApp Payments, which allows fans to send money to friends and business wirelessly within the app, earlier this year – but now, the service has been unexpectedly suspended.
Although Facebook has been working on the service since 2018, WhatsApp Payments passed a major milestone when the feature at last began rolling out, with an initial release in Brazil last month. Brazil is WhatsApp’s second largest market after India, so an Indian launch seemed like a great starting point.
However, a few days after WhatsApp Payments launched in Brazil the functionality has been disabled. As reported on in a post by Bloomberg, the Brazil Central Bank has suddenly suspended WhatsApp Payments in the country.
- WhatsApp fans could soon spend a small fortune using the app
In a statement on its website, the monetary authority said the decision was made to “preserve an adequate competitive environment, that ensures the functioning of a payment system that’s interchangeable, fast, secure, transparent, open and cheap”.
Speaking about the decision to Bloomberg, an insider said the news came as a surprise as the two parties had been in regular contact in the run-up to the launch. While a WhatsApp spokesperson said: “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.
“In addition, we support the Central Bank’s PIX project on digital payments and together with our partners are committed to work with the Central Bank to integrate our systems when PIX becomes available.”
The news will come as a blow to WhatsApp who intend to roll out the Payments feature worldwide after testing it in a handful of markets over the past two years. Payments are part of WhatsApp’s long-term plan to offer commerce within the app.
It remains to be seen how this setback could affect other rollouts around the world, and how long it will take to resolve the issues in Brazil. The country’s central bank said the suspension will allow them to assess if there’s any possible risk to their system of payments and if it complies with the rules.
They added that starting WhatsApp Payments without regulatory approval could cause: “irreparable damage to the system, especially what concerns competition, efficiency and data privacy”.
Source: Read Full Article