FinTech: Brazil’s MercadoLibre To Process Business Payments On WhatsApp

December 8, 2022 | FinTech, News
https://dailyalts.com/wp-content/uploads/2022/12/whatsapp-icon-g93b9d385e_640.jpg

The MercadoLibre CFO revealed this in an interview with Reuters.

Pedro Arnt, CFO at Latin American e-commerce retailer and fintech firm MercadoLibre (NASDAQ: MELI) is in discussions with Meta (NASDAQ: META) to process payments in Brazil on the latter’s WhatsApp messaging service. (Reuters)

Last month, Meta CEO Mark Zuckerberg had outlined plans for a commercial directory and a payments tool within WhatsApp in Brazil. He said in a video: “The ultimate goal here is to make it so you can find, message and buy from a business all in the same WhatsApp chat.”

Brazil, India, and Indonesia are WhatsApp’s biggest markets.

Brazil payments through WhatsApp

Whatsapp users in Brazil would use the payments tool to locate a business through the commercial directory, enter a deal via messaging, and then pay with a debit or credit card.

“We are in the test phase as one of the partners that processes payments in Brazil,” Arnt told Reuters.

Meta named Mercado Pago, the financial arm of MercadoLibre, as one among many other companies that are participating in testing the new payment system.

“We have a very strong relationship with our consumers because we can solve both their financial needs and their commerce needs. That puts us in a very strong position,” Arnt told Reuters.

“This could be an opportunity for us to leverage WhatsApp efficiently to generate more sales and better customer contacts,” Arnt added.

Related Story:  WhatsApp Adds ‘Pay’ Button To Contacts List For Quick And Easy Payments To Loved Ones

Image by Nyoman Suartawan from Pixabay

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…