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Brazilian Authorities Suspend WhatsApp Payments

  • Central bank wants to assess risks to country’s payment system
  • Lawyer says suspension is an unusual move by the bank
Updated on

Brazil’s Central Bank and antitrust regulator suspended Facebook Inc.’s WhatsApp messenger payment features in the country, the app’s second-biggest market with more than 120 million users.

The bank decision aims to “preserve an adequate competitive environment, that ensures the functioning of a payment system that’s interchangeable, fast, secure, transparent, open and cheap,” the monetary authority said in a statement on its website. Bank authorities requested that Mastercard Inc. and Visa Inc. stop payment and money transfer activities through the app.