Technology • Internet & Web
2021-04-01T08:00:01+00:00

Brazilian Central Bank authorises money transfers via WhatsApp

Brazilian Central Bank authorises money transfers via WhatsApp
WhatsApp screens displaying bank transfers Credit: WhatsApp

The Brazilian Central Bank granted on March 30th operating authorizations that allow the carrying out of bank transfers by WhatsApp. According to the model authorized by the Central Bank, WhatsApp will only initiate transactions between customer accounts at the financial institutions in which they are account holders. Also, according to the BC, transactions can be made from the date when WhatsApp makes the functionality available to the customer and the rate charged for the bank transaction will be defined by the application. In a press release, the Central Bank estimated that the measure could lead to a reduction in the costs of financial transactions.

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Card reviewed by: @christoph