Brazil’s Central Bank has put a pause on WhatsApp payments in the country, according to Bloomberg. Apparently, the bank decided to suspend the feature to “preserve an adequate competitive environment, that ensures the functioning of a payment system that’s interchangeable, fast, secure, transparent, open and cheap.”
Facebook, WhatsApp’s parent company, rolled out payments in Brazil earlier this month after two years of testing. The South American country is WhatsApp’s second largest market after India, making it a great starting point for a feature that Facebook says will eventually be available to everyone. It allows users to pay for purchases from local merchants without leaving the app and without fees on top. A lot of small businesses in India, Brazil and other developing countries use WhatsApp as their main online presence, ad the feature will give them an easy way to accept digital payments.