SAO PAULO: Facebook's WhatsApp messaging service relaunched on Tuesday its transfer money services between individuals in Brazil, after it was blocked by the central bank nearly one year ago, Chief Executive Mark Zuckerberg said in a Tuesday video.Brazil is the second country where the messaging service launched money transfers. Initially, the system will not allow each transaction to surpass 1,000 reais or more than 20 transfers per day.The roll out of the new feature will be phased, Chief Operating Officer Matthew Idema said in an interview. Starting today, a limited and undisclosed number of users will get a payment tool in their app. "For WhatsApp launching payments is interesting because it increases the app usage," the COO said.WhatsApp started its payment service in partnership with card networks Visa Inc and Mastercard and payments processor Cielo SA. It will operate with cards issued by Banco do Brasil SA, Banco Inter, Banco Bradesco SA, Itau Unibanco Holding SA, fintech Nubank, MercadoLibre's Mercado Pago and Sicredi.

Source: Economic Times May 05, 2021 03:19 UTC