Brazil suspends WhatsApp’s payments service


Brazil's central bank said Tuesday it had ordered Visa and Mastercard to suspend a joint project with WhatsApp to roll out digital payments within the popular messaging service, over fears it would be anti-competitive.


"The reason for the central bank's decision is to preserve an adequate competitive environment, ensuring an interoperable, fast, secure, transparent, open and economical payment system," Brazil central bank said in a statement.


The service enables users to exchange money with one another and also pay businesses. The Facebook-owned service said at the time that it was not levying any fee to users for sending or receiving money but businesses were parting with a 3.99% processing fee to receive payments.

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