Brazil Suspends WhatsApp's Payments Service

Brazil, the second largest market for WhatsApp, has suspended the instant messaging app's mobile payments service in the country a week after its rollout in what is the latest setback for Facebook. From a report: In a statement, Brazil's central bank said it was taking the decision to "preserve an adequate competitive environment" in the mobile payments space and to ensure "functioning of a payment system that's interchangeable, fast, secure, transparent, open and cheap." Banks in the nation have asked Mastercard and Visa, who are among the payments partners for WhatsApp in Brazil, to suspend money transfer on WhatsApp app. Failure to comply with the order would subject the payments companies to fines and administrative sanctions. In its statement, Brazil's central bank suggested it hadn't had the opportunity to analyze WhatsApp's payment service prior to its rollout.

As expected

[TheDarkMaster]

The Brazilian government would never accept a form of payment that it can not overtax to discourage Brazilian shopping abroad (for every dollar you receive from a Brazilian buyer, he is required to pay another dollar to the government).

Re: As expected

[Way Smarter Than You]

At last check Brazil still has elections. If the Brazilian people don't like their government's tax policies maybe they should vote in other people?

They are getting what they voted for.

Same can be said for the US, Venezuela, UK, Canada, and any other country with free elections.

And if your guys don't get into office or screw you once there, you have a few choices:
- try harder next time
- over throw the government
- leave the county
- accept it and just whine online a lot

Re:

[TheDarkMaster]

We tried.

But banana republics don't have elections for real.

Re:

[cgraeff]

The government would have no problems to tax payments through WhatsApp, if it decided to do so. In fact, the brazillian Central Bank is developing an open payment platform based in QR codes and (as far as I understand) banks are required to accept it by november.

Re:

[khchung]

If the Brazilian govt is corrupted, then probably FB forgot to pay certain people. After the right people got paid, FB can launch this again.

If the Brazilian govt is benevolent, then it made sense to NOT let a foreign company dominate your consumer payment service. Brazil would develop its own competing payment service, they may then let foreign players come in.

Only incompetent govt would simply let a foreign company dominate the consumer payment service business and do nothing about it.

Time will tell whi

Good for Brazil; next, ditto to FaceBook

[bogaboga]

...to ensure "functioning of a payment system that's interchangeable, fast, secure, transparent, open and cheap."...

I wish this regimen can be "forced" on FaceBook, for lack of a better word.