WhatsApp’s new payment system is suspended in Brazil
Brazilian Central Bank and antitrust federal authorities suspended WhatsApp’s new payment feature in the country. The decision was grounded on the preservation of an appropriate competitive environment. The large WhatsApp used database coupled with Visa and MasterCard’s high market share in payments may be a too high barrier for new competitors. The decision is a backward step for Facebook, which launched the WhatsApp payment system in Brazil in early June. Payments are a key element of WhatsApp’s long-term commercial strategy.