Yesterday Banco Central do Brasil instructed Visa and Mastercard not to start processing payments for the WhatsApp application and to cease if they have begun. WhatsApp Pay launched in Brazil this month.
The motivation given by the Bank was to “preserve an adequate competitive environment, which ensures the functioning of an interoperable, fast, secure, transparent, open and inexpensive payment system.”
The central bank raised concerns about the impact on the Brazilian Payment System concerning competition, efficiency and data privacy. It says it needs to assess the risks and compliance with local laws.
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