Central Bank of Brazil

Just a week after its launch in the country, WhatsApp Pay was suspended by the Central Bank of Brazil.

The bank authority released a statement suggesting it hadn’t had the opportunity to analyse WhatsApp’s payment service before its rollout, and that was a mandatory step before the service could be launched.

WhatsApp payments partners for in Brazil are required to suspend money transfers on the app or will face fines and administrative sanctions.

Speaking in an online event Roberto Campos Neto said he is worried that, despite all measures taken by the Brazilian Government, money is not reaching to small and medium-sized companies.

Campos Neto said further measures to boost credit to that sector of the economy will be announced soon.