Facebook Pay forced to back off in Brazil over banking rule confusion
WhatsApp moving into financial services in Brazil would have been a major coup, but the central bank pulled it eight days after its launch
16 July 2020 - 13:56
São Paulo/Brasilia — Allowing millions of Brazilian users of Facebook’s WhatsApp to send money as easily as texts seemed a golden opportunity for the world’s largest social media company.
The ubiquitous messaging service was finally entering the financial services arena with a payment service in Latin America’s largest economy, after years of questions over how Facebook would make money from it...
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