WhatsApp Pay _ See how it works
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Send money without leaving the conversation? See how WhatsApp Pay works!
On May 4, 2021, Facebook (Meta) launched WhatsApp Pay, a free, secure and digital money transfer method.
The update of this tool has been gradually reaching users of this application, but currently it already covers a good number of the expected users.
People are still getting familiar with this payment method, some are a little afraid to use it and don't know how it works.
If you are part of this group, continue reading and find out how WhatsApp Pay works.
What is WhatsApp Pay?
WhatsApp Pay is an application tool that allows you to transfer money from a conversation.
With this tool you can transfer money, even as a form of payment to your contacts, without having to open your bank app or leave WhatsApp.
The term “Pay” is an abbreviation of “Payments”, which translated means “Payments”. But this term is also the meaning of the word “Pay”.
Basically, that's exactly it! WhatsApp Pay is a channel for receiving and making payments via transfer.
This tool is managed by Facebook Pay, with Cielo being responsible for the transactions.
How does WhatsApp Pay work?
This tool is available for individuals and legal entities, however, in the second option, a percentage of 3.99% is charged on each operation.
To start using it, you need to register a debit or prepaid card from partner financial institutions.
Unfortunately, the list of banks that have adopted this payment model is still small, they are:
- Inter Mastercard Bank;
- Bradesco Visa;
- Bank of Brazil Visa;
- BTG+ Mastercard;
- Itau Mastercard;
- Neon Visa;
- Visa Pay Market;
- Next Visa;
- Nubank Mastercard;
- Santander Mastercard;
- Sicredi Mastercard and Visa;
- Woopi.
If you don't have an account with any of these banks, you can easily open one using these options.
On our blog you will find relevant information about all the options on this list, making it easier to decide.
If you don't want to open an account right now, that's okay. We expect this list to grow over time, so just wait until your bank is eligible.
Each transaction by an individual must not exceed the value of R$1,040,000. Apart from that, you can make up to 20 transactions per day, but the total value cannot exceed R$1,040,000 per month.
If you are a legal entity, there is no limit on transactions, but you pay a fee of 3.99% for each transaction.
The fee is certainly not very attractive, so it is worth considering whether this is the most economical option for transferring money.
How to transfer money using this tool?
First, you need to check if this option is already available in your application.
If it isn't there yet, update the app to see if it appears, if it doesn't, just wait.
Tool available, ok. First, you need to register your debit or prepaid card, otherwise, you will not be able to make any transfers.
Find the contact you want to send money to and join the conversation. Where you type the message, an image of paper clips will appear. You can use this to send photos, documents, etc.
Between this icon and the camera icon, the real symbol “R$” appears, by clicking on this icon you can register a card and transfer money.
The process to transfer money is very simple, you just need to select the amount and an optional description.
Finally, complete the operation by clicking on the green arrow pointing to the right corner of the cell phone screen.
You can also request money with WhatsApp Pay, the process is the same, however, instead of clicking on “Pay”, choose the “Request” option next to it.
The money will be deposited into the destination account within a maximum of two business days. The transaction will only be approved if you have a balance on your card for the amount indicated.
So, have you transferred money with WhatsApp Pay? Have you encountered any difficulties?
