Some days back, WhatsApp launched its digital payment service in Brazil which enabled people to send money or make a purchase through the app.
Now, Brazil’s central bank has suspended the newly-launched system, ordering Visa and Mastercard to stop payments and transfers through the system.
Brazil’s central bank suggested it hadn’t had the opportunity to analyze WhatsApp’s payment service before its rollout.
According to reports from Bloomberg, the bank will use the suspension to evaluate potential risks to the country’s payment infrastructure and to work out whether WhatsApp is compliant with regulation.
With Brazil as WhatsApp’s second-largest market after India, it was a great starting point for a feature that Facebook says will eventually be available to the rest of the globe.
Being that WhatsApp is the main online presence used by a lot of small businesses in India and Brazil, the feature was to give them an easy way to accept digital payments.
Asides India, WhatsApp has also been testing Pay in Mexico
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