WhatsApp's recently launched digital payments system for Brazil has been suspended merely one week after its launch. The decision was handed down yesterday by Brazil's Administrative Council for Economic Defense (CADE) and the country's Central Bank, both of which are concerned about how it could harm competition with existing institutions in the domestic market.
Both agencies are seeking to get more information on the precise business model and other details regarding WhatsApp's payments system from companies participating in the effort, including Facebook and partner creditor Ceilo S.
Read MoreWhatsApp payments suspended in Brazil just one week after launch was written by the awesome team at Android Police.
Android Match
Post a Comment