How to use WhatsApp Pay? Learn about partner banks

What is WhatsApp Pay and how does it work in Brazil?

Certainly, before starting the membership procedure, the first information you should know is what it is and How WhatsApp Pay works.

Let's go?

In short, WhatsApp Pay is a feature that allows app users to make cash transactions.

So, there is no need to make transfers through a bank account.

Despite the ease, there are still some limitations for individuals.

The first of these is in relation to daily transactions, as Up to 20 is allowed, as long as it does not exceed the value of R$1,000.00 per day.

The second limitation refers to the monthly value and cannot exceed R$5,000.00.

On the other hand, companies registered with WhatsApp Business have no transaction limit. However, they must pay a fee of 3.99% per sale.

How to activate the function?

If you're still apprehensive, know that activating WhatsApp Pay is very easy.

The first step is to log into your Play Store account and check if your app is updated to the latest version.

In the conversation, within the file upload field, check if the "payment" option appears. Then, enter your personal information and accept the Facebook Pay terms.

Then, register a security password and add your debit card number, or multiple card (debit and credit).

If the payment function still doesn't appear, ask a friend who already has WhatsApp Pay activated to send you a certain amount.

What are the advantages of WhatsApp Pay?

As much as the instant messaging app has been the target of scams, transactions are secure and have several advantages, such as:

Fast transactions

Money transactions via messaging apps are very fast, which greatly benefits purchase and sale transactions.

Available 24 hours

Users send and receive money 24 hours a day, including on weekends and holidays, unlike bank transfer systems.

Easier for companies

Companies that use WhatsApp to sell now have greater ease with this payment method.

Because through the app, the customer can browse the product catalog and purchase instantly within the app, without being redirected to another page.

Easier payment

Now you can send money to friends, family, manicurists, and more, faster.

Just enter the amount for the contact and enter your security password.

Safe procedure

Contrary to what many people think, the WhatsApp Pay system is secure!

After all, before making the payment, the user needs to enter the password or insert the fingerprint.

Additionally, when the number is installed on another device, all card data is erased.

So, to gain access, the user has to enter all the information again.

Regarding risks, Dennis Wang – executive at Tech Company – in a interview given to Exame mentions that:

Whatsapp Pay Banks: learn about the institutions that support this type of payment

First of all, if you're part of the 5% group of consumers who haven't adopted this payment method because they don't have a card from a partner bank, your problem is over.

Well, let's now list the financial institutions that work with this instant money transaction.

In fact, in some cases, like Nubank, you can open your account from home without paying maintenance fees.

Let's check it out?

Banco do Brasil (only for Visa card);
Inter Bank;
Bradesco (only for Visa card);
Itaú (only for Mastercard);
Mercado Pago;
Next;
Nubank;
Sicred (Mastercard and Visa);
Woop (Visa card only).

Whatsapp Pay Credit Card – all your questions answered

In fact, credit cards are the most popular payment method among Brazilians; however, they are not accepted on WhatsApp Pay.

What is actually accepted, they are multiple cards (they work simultaneously as credit and debit). As long as it has a partnership with the banks mentioned above.

In fact, the app's purpose is to be an instant payment method similar to PIX. In other words, it's like "using cash" to make transactions, but even easier.

The difference is that with WhatsApp Pay, the user doesn't need to register keys in a bank account. After all, everything is done through conversations in the messaging app.

Take advantage of WhatsApp Pay to sell online!

According to an article in Globo, sales in digital channels represent 54% of the total number and physical channels have only 45.2% of this share.

Thus, technology offers an excellent opportunity for freelancers, especially those working in direct sales, such as resellers.

Because, through the Business digital catalog, contacts have an easier time both learning about the product and completing the payment.

And, this has become a great opportunity to increase the number of customers and make money online.

This way, the freelancer or small business can close a sale directly in conversation with the customer.

Conclusion

Based on the content presented, we can conclude that the app has become an instant payment method like PIX. Therefore, knowing how to use WhatsApp Pay is essential!

The difference is that you don't need to log into your bank account and make transfers, such as TED, DOC, and PIX.

Just enter the desired amount and send it to the contact, just like you send an image!

This approach offers an excellent growth opportunity for freelancers, especially those who already use WhatsApp to sell.

However, we also saw that a large portion of consumers do not use this payment platform because of their debit card.

But don't worry, this is a very easy situation to resolve!

Our suggestion is to Nubank digital accountYou can open it right now, find out more by clicking the button below!

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By: Consultacred Content Team updated ago 1 year back