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Brazilian authorities suspend WhatsApp payments
- elchin 6y agoI would expect that WhatsApp had to get an approval before the launch? Is Brazil less regulated when it comes to payment processing?
- lullibrulli2 6y agoThe article says they were in contact before this. > Bloomberg reports that WhatsApp was surprised by the Brazillian Central Bank’s decision, since the company had been in regular contact with the authority. WhatsApp had started a small test of the service in the country around a month prior to its launch.
- bzb3 6y agoGod, stop using code blocks to quote things.
- TazeTSchnitzel 6y agoHN needs to have a proper way to do quotes. > doesn't indent beyond the first line once word-wrapped, | looks cute but is confusing, code-blocks suck, etc.
- detaro 6y ago> this style works well, even if applied over multiple lines. Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. at least IMHO
- gomox 6y agoYes for the love of god
- hombre_fatal 6y ago">" is fine. Nobody is confused by it. The only thing worth changing is to remind people to use it instead of inventing their own apparatus.
- lullibrulli2 6y agoI'm sorry. I'm not yet used to citing on this platform.
- nathanaldensr 6y agoI tend to use italics (denoted by asterisks) for quotes. I never wanted to be famous. I only wanted to be great. -- Ray Charles
- kawera 6y agoBrazil is well regulated as far as payment processing is concerned. And Whatsapp's maverick approach didn't go well with both the central bank and the competition authority. They'll have to conform before proceeding.
- sktrdie 6y agoWhy do services like whatsapp need support for this? We have URLs people! Here I just send an URL to my friend via whatsapp. They click on the link. The site takes care of giving user whichever payment method they desire. User pays. That's it. From a user's perspective to pay I just have to click a link. And to get paid I just send a link. How easier can it get?
- aprdm 6y agoIn Canada people can pay you by having your email or phone number in their bank app. Works really well!
- mixmastamyk 6y agoThat's problematic and not as good as direct bank to bank transfers.
- alphakilo 6y agoElectronic Money Transfer (EMT)/e-transfering is a bank-to-bank transfer in Canada.
- mixmastamyk 6y agoIt may be convenient use other ids besides bank account numbers, but it adds another avenue for mistakes.
- frosted-flakes 6y agoSuch as...? To me, passing around a long unstructured numeric string is a lot more error-prone than selecting a contact from my banking app, or writing a short, structured phone number or email address. In any case, the recipient needs to know the secret one-word answer to the question set by the sender, which would prevent wrong parties from claiming money (this can be skipped if the recipient registered their phone number or email address forbauto-deposit).
- sschueller 6y agoWhy doesn't Facebook do it in the US? Too much opposition from the large payment processing lobby?
- danilocesar 6y agolack of users might be the case. WhatsApp is ridiculous popular in Brazil, but not that relevant in north america.
- randiantech 6y agoThis. I was surprised a year ago or so when I last travel to US that Wap was not ubiquitous like in pretty much the rest of the world.
- zelphirkalt 6y agoWA is not ubiquitous in some big parts of the world. It's not like it is ubiquitous in "the rest of the world". In China at least WeChat takes the crown and I don't know about other Asian countries. Lets not make WA seem more "unavoidable" or seem more ubiquitous than it really is. It's got sufficient network effect already.
- dgellow 6y agoIn south east Asia it's mostly Line and WeChat.
- verganileonardo 6y agoWhatsApp is huge here and we don't have Venmo or CashApp
- plausible 6y agoAs a Brazilian, I'm pleased. Our central bank is going to release a platform called PIX. Financial institutions with more than 500.000 clients are required to implement it. Finally we are going to have a standard across banks, and money transfers are going to be less complex, clunky and costly. Of course, other apps have come before. We have apps like PicPay, PayPal and Nubank, just to name a few, that provide instant, free money transfers. Unsurprisingly, each one rolled out their own standard, but they had to register at the central bank as a financial institution. This means that, at least the popular ones, will have to provide compatibility with the central bank's platform. This new WhatsApp feature, to me, looked like a bold attempt to kill PIX at launch. People wouldn't mind this new feature inside their banking app that already exists, for a few months, in the messaging app they're used to. If the average Brazilian user sees a QR code, is it a WhatsApp Pay QR code they see regularly? Or is it that obscure feature inside their banking app, which they didn't pay attention to? What would make more sense for businesses to adopt, for the sake of simplicity? I'm glad Facebook will not get away with that one. If they're going to launch this feature, our central bank should make sure that it's compatible with the nationwide standard that's going to roll out. I'd rather not need Facebook to conveniently pay for my loaf of bread. Edit: replaced "service" with "platform".
- comechao 6y agoIf this is about Pix, and I believe it is, Government is killing competitors. If Pix is better, people will choose Pix, if WhatsApp is better, people will use it. Let's not force people to use a solution and create a monopoly controlled by the Government, again.
- diegoholiveira 6y agoPIX will not be a service to end-users, it'll create a standard where any service can offer instant payments and transfers. It will increase competition in the long run because if you want to open a payments fintech, you don't need to go in every bank or other fintech to do agreements about how your app will communicate with then, you just use the PIX to communicate with everyone.
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- agustif 6y agoThey should try in Spain or other European countries where Coronavirus has hit hard and has high WhatsApp usage
- te_chris 6y agoEurope already has easy money transfer
- danilocesar 6y agoBrazil too.
- benhurmarcel 6y agoNot that easy. You need to exchange the IBAN and add it in your bank app. In Spain there’s Bizum which allows to send to a phone number but it doesn’t have nearly the popularity of Whatsapp. And it’s national only. We’re missing a Europe-wide solution.
- GekkePrutser 6y agoSpain has Verse and Bizum (from Caixabank).
- davidgerard 6y agooriginal link: https://www.bloomberg.com/amp/news/articles/2020-06-23/brazil-s-central-bank-suspends-whatsapp-payments https://www.bloomberg.com/amp/news/articles/2020-06-23/brazi...
- LockAndLol 6y agoTIL Whatsapp had payments... Is Facebook just copying WeChat?
- deleted 6y ago[deleted]
- GekkePrutser 6y agoWhatsApp does payments??? I never knew of this. In fact I see no sign of it in the app whatsoever. Must be a regional thing?
- cfcr 6y agoFuck the government intervention on consenting adults practicing voluntary transactions.
- ramon 6y agoOpen banking is required, please wait.