WhatsApp has launched payments.

Signalling Facebook's goal to dominate Fintech space.

Alfred Lee

16 Jun, 2020

WhatsApp has launched payments. | BEAMSTART News

- From our Sponsors -

Facebook has always been looking to dominate the e-commerce and payments space.

Earlier today, WhatsApp announced that the messaging app will now begin allowing users to send and receive payments from within its app.

Users in Brazil will be the first to experience this new feature.

Users can send and receive payments on WhatsApp without leaving the app.

In a blog post, WhatsApp mentions that the payment service will be free for consumers, while businesses will pay a 3.99% processing fee when receiving payments.

Users can begin taking advantage of this feature by linking their debit/credit cards with their WhatsApp account. 

WhatsApp has also built an open model to form partnerships with local banks to complete transactions as well.

This new move hints at the possibility of Facebook eventually moving into the cross-border payments space, followed by financial services in developing countries.

Facebook rolled out 'Shops' earlier this year.

Earlier this year, Facebook rolled out a series of e-commerce tools for users affected by the pandemic, aggressively pushing into the online shopping and digital payments space.

Whether Facebook will succeed in becoming a mainstream payment processor for the world is yet to be known, as the company still faces many regulatory hurdles for the time being.

- From our Sponsors -

Latest Jobs

Software Engineer (TypeScript / Node.js)


Los Angeles, CA, United States

Full Time

USD 160000 yearly

Product Manager, Identity


San Francisco, United States

Full Time

Salary Undisclosed

Founding Engineer


Paris, France, United States

Full Time

USD 70000 — USD 110000 yearly

Frontend Engineer


New York, United States

Full Time

USD 140000 — USD 165000 yearly

👨‍💼 Sales Leader


Boston, United States

Full Time

Salary Undisclosed

Head of Sales-City


Bengaluru, India, United States

Full Time

USD 13000 — USD 19000 yearly

Human Resources Business Partner/ HR Manager - Entry/Experienced/Managerial


Ho Chi Minh City, Vietnam, United States

Full Time

Salary Undisclosed

Group Product Manager, Platform


Mexico City, Mexico, United States

Full Time

Salary Undisclosed

NLP Research Engineer


London, United Kingdom, United States

Full Time

USD 100 — USD 120 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).