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Brazil’s Central Bank has suspended Facebook’s WhatsApp payments feature in the country, just over a week after the messaging service announced its launch, Bloomberg reports. In a statement, the central bank said that it had taken the decision to ensure competition in the payment system market. Bloomberg notes that the bank will use the suspension to evaluate potential risks to the country’s payment infrastructure, and to work out whether WhatsApp is compliant with regulation.
The suspension in WhatsApp’s second biggest market is the latest setback for Facebook’s payment ambitions. Despite launching in beta back in 2018 in India (WhatsApp’s largest market), TechCrunch reports that parent company Facebook has struggled to gain regulatory...
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WhatsApp payments suspended in Brazil by Central Bank
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June 24, 2020
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