Brazil shuts WhatsApp payment service

Brazil shuts WhatsApp payment service
# 24 June 2020 11:10 (UTC +04:00)

The Central Bank of Brazil suspended the recently introduced service that allowed the users of Facebook's WhatsApp to make transfers and halt payments, effective immediately, APA reports citing Teletrader.

The bank said implementing such a scheme that would be independent of monetary authorities' control could damage the system and the users in the fields of "competition, efficiency, and data privacy."

A spokesperson for WhatsApp said it would continue to provide digital services through a collaboration with local partners and the central bank and use a model that would make its operations more open and accessible.

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THE OPERATION IS BEING PERFORMED