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With WhatsApp Pay, you can send and receive money easily, without leaving your conversation. Read on to find out how it works!
WhatsApp is one of the most used messaging apps in the world, it has around 1.2 billion users.
The application is always innovating and bringing updates to gain even more users and retain those who already use the service. technology.
On May 4th, the brand launched WhatsApp Pay, a simple, secure, digital and free payment method.
If you still don't know how WhatsApp Pay works, you're definitely in the right place!
So, keep reading this text and learn how this tool works. See our index below:
- What is WhatsApp Pay;
- How to activate;
- How it works;
- Find out how to transfer or receive money with this tool;
- Conclusion.
What is WhatsApp Pay?
The translation of the word Pay is “Pay”, or it can be considered an abbreviation of the word “Payments”, which means payments.
Basically, that's exactly it, WhatsApp has been transformed into a payment tool or method as well.
With it, you can transfer and receive money without having to leave the conversation.
WhatsApp is managed by Facebook Pay, and Cielo is the intermediary for transactions.
The new application functionality is available to individuals and legal entities, however, for the second option, a percentage of 3.99% is charged per transaction.
Before seeing how it works WhatsApp Pay, see how to activate.
How to activate WhatsApp Pay?
Some apps have been updated automatically, if this option has not yet appeared in yours, go to the Play Store and update the app version.
If by chance, you still don't activate the function, go to settings in your app and activate it.
In the case of legal entities, the process must be carried out through WhatsApp Business.
Once that's done, all you need to do is register a debit or prepaid card, as shown in the image in the next topic.
Unfortunately, this payment method is not available for all cards. See the list of eligible banks below:
- Bank of Brazil – Visa;
- Banco Inter – Mastercard;
- Bradesco – Visa;
- BTG+ – Mastercard;
- Itaú – Mastercard;
- Mercado Pago – Visa;
- Neon – Visa;
- Next – Visa;
- Nubank – Mastercard;
- Santander – Mastercard;
- Sicredi – Mastercard and Visa;
- Woopi – Visa.
If you don't have any of the cards mentioned above, you can open an account with one of them.
Here on our blog you can find details about the cards and their accounts, including how to open an account with each of them.
Otherwise, if you don't want to open an account now, just wait, as this list of partners is expected to grow.
You can send a message to your bank and suggest joining WhatsApp Pay.
How does WhatsApp Pay work?
This feature is intended for all users, although it does not yet cover all of them.
The only caveat is that you need to have a debit or prepaid card from one of the app's partners.
If you have one, you can use this payment method without any worries, as it is safe. However, your transactions cannot exceed the value of R$1,000,400.
Additionally, you can make up to 20 transactions per day, but the monthly amount must be a maximum of R$1,000,400,000 per month.
Companies have no limit on transactions, but pay a percentage fee of 3.99% on each transaction.
How to transfer or receive money?
Making a transaction through WhatsApp Pay is quite simple. The first step is to check if the feature is already available for your app, as mentioned above.
Once done, enter the conversation with the person you want to send or request money from and click on the “R$” option, as shown in the image.
If you don't already have a debit or prepaid card registered, you can do so at this stage and also see the list of partner cards.
The next step is to choose whether to request or pay someone and set the amounts. See the illustrative image below.
Finally, click the green arrow pointing to the right. Oh! You can send the money with a note or description first, but it's not mandatory.
After this process, simply complete the transaction. The money will be deposited into the receiving account within two business days.
Although it is similar to Pix, it is already at a disadvantage, as the payment is not instantaneous, that is, the amounts are not debited at the same time.
Conclusion
WhatsApp Pay is a simple and secure way to receive and pay our friends, family and other contacts without needing to access a banking app.
Among the security measures adopted to make the tool safe, we find, for example, two-step verification and confirmation by biometrics or PIN.
So, try this new payment method and find out for yourself. How WhatsApp Pay works.
For more details about this service and partner banks, read the article: How to use WhatsApp Pay? Learn about partner banks.
