WhatsApp Payments Suspended by Brazil’s Central Bank (to preserve an adequate competitive environment)

https://cointelegraph.com/news/whatsapp-payments-suspended-by-brazils-central-bankWhatsApp’s payment features have been suspended in Brazil less than one month after the Facebook-owned app rolled them out.

The Central Bank of Brazil (BC) took action against WhatsApp Pay “to preserve an adequate competitive environment” and allow the central bank to assess the risks posed by the firm to the country’s existing financial sector.

Visa and Mastercard will face heavy fines and administrative sanctions if they do not suspend activities relating to WhatsApp payments.

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