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WhatsApp to offer peer-to-peer re payments solutions in Brazil quickly – main bank chief

WhatsApp to offer peer-to-peer re payments solutions in Brazil quickly – main bank chief

By Jamie McGeever and Marcela Ayres BRASILIA (Reuters) – WhatsApp, the messaging solution of Facebook Inc, will quickly enter the Brazilian market providing peer-to-peer (P2P) payment solutions, central bank president Roberto Campos Neto stated on Monday. In a press seminar marking the launch of this central bank’s brand new “PIX” instant re payments platform, Campos Neto additionally stated the main bank has held speaks with Bing along with other “big technology” companies about going into the instant re payments market in Brazil. “WhatsApp will begin beginning doing P2P quickly

Reuters Nov 17, 2020 00:16:31 IST

By Jamie McGeever and Marcela Ayres

BRASILIA (Reuters) – WhatsApp, the messaging solution of Twitter Inc, will quickly go into the Brazilian market providing peer-to-peer (P2P) re re re payment solutions, central bank president Roberto Campos Neto said on Monday.

In a press meeting marking the launch for the main bank’s brand brand new “PIX” instant re re payments platform, Campos Neto additionally stated the main bank has held speaks with Bing along with other “big technology” companies about going into the instant re payments market in Brazil.

“WhatsApp will begin beginning doing P2P quickly. We have talked a great deal using their CEO payday loans Connecticut, we have been making good progress. He has got explained that the procedure (with us) had been quicker compared to other nations,” Campos Neto stated.

“Our only concern is the fact that we ought to proceed through all the approval requirements and therefore we’ve a system that fosters competition,” Campos Neto stated.

The ubiquitous texting solution in Brazil attempted to go into the re payments market by releasing the solution on June 15. But eight times later the main bank and anti-trust regulator blocked the solution, saying it should be evaluated for reasonable competition and information privacy concerns.

Whenever asked whether WhatsApp would run in the newly-launched “PIX” instant payment system, Campos Neto said you will have space for any other platforms besides PIX.

PIX went live at 0930 regional time on Monday, and in line with the central bank, some 72 million registrations have already been exposed when it comes to solution that will enable individuals and organizations to produce bank transfers round the clock.

That total includes 30 million people and 1.8 million companies, a main bank official stated on Monday.

Campos Neto stated PIX will raise the rate, simplicity and effectiveness of earning economic deals, from purchasing a frozen dessert to purchasing a vehicle, along with decreasing costs and fostering competition between economic businesses.

(Reporting by Jamie McGeever and Marcela Ayres; Editing by Chris Reese)

This tale will not be modified by Firstpost staff and it is produced by auto-feed.

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