WhatsApp To Roll Out Money Transfer Feature Soon


The world’s largest messaging application WhatsApp to roll out once again peer-to-peer money transfer feature soon.

According to the reports, the Facebook-owned application had launched its digital payments and funds transfer feature in Brazil where users could send money to their family members but the country’s central bank said it could harm the current payments system in terms of competition, efficiency, and data privacy.

The App has also failed to obtain the compulsory license. But now, WhatsApp has received the green signal from Brazil’s Central Bank for its in-app money transfers.

WhatsApp said in a statement to the international news agency that,

The decision to “approve our payments initiator license request” was a “welcome” move.

“Now, more than ever, safe, secure, and convenient digital payments offer a vital path to deliver money quickly to people in need and help businesses with their economic recovery,” it added.

Also, WhatsApp users have facing issues of receiving spam verification code messages to steal their private information.

As per reports, the users of the app asked to send a certain code for verification. The message contains “Prove that you’re a human sending the code you’ve just received from WhatsApp, or your account will be disabled tomorrow”.

According to WABetaInfo, WhatsApp has denied any such development from the messaging app.

The app management has advised users to allow two-step verification to confirm safety.

“Whatsapp is not sending any message about the renewal of your account. Block and report unofficial accounts on WhatsApp that ask for your 6-digit code. Note: WhatsApp and WhatsApp Support will NEVER ask for your 6-digit code!”