WHATSAPP has finally launched an in-app payment system that lets pals transfer cash virtually to each other.
Facebook chief Mark Zuckerberg announced the new feature, calling it “a secure and consistent way to make payments”.
The feature is currently only available in Brazil, but Zuckerberg says it’ll soon come to more countries.
It’s totally free to use, with no commission fees.
However, businesses that use it will need to pay a small processing fee.
And you’ll use either a fingerprint scan or six-digit PIN to complete a payment.
“We’re making sending and receiving money as easy as sharing photos,” billionaire Zuckerberg explained.
“We’re also enabling small businesses to make sales right within WhatsApp.”
All users need to do is have a valid WhatsApp account, and then link it up to a Visa or Mastercard card.
Facebook has been testing payments in India for several months.
But Brazil is the first country to get an official launch for WhatsApp’s payments system.
There’s no word on a US or UK launch yet, however – but Facebook’s plan is to launch in more countries.
“We’re looking forward to bringing payments to more countries to make it easier for people and businesses to send money and build their business,”
The system is built on the existing Facebook Pay technology.
And Facebook is currently gearing up to launch its own digital currency – as well as a virtual banking app called Novi.
In other news, Facebook Messenger uses AI to spot suspected paedos.
Facebook and Instagram have launched virtual shops where you can buy almost anything.
A recent surge in users means that 2.6billion people now log onto Facebook every single month.
Do you think this system will catch on? Let us know in the comments!
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