Sao Paulo — (BUSINESS WIRE) — Visa Inc. (NYSE:V) today announced that it is working with Facebook to help power the new payments feature on WhatsApp in Brazil. WhatsApp users will now be able to swiftly and securely send and receive money to family and friends, and to make purchases from small businesses on the popular global messaging service.
Payments on WhatsApp are made possible by tapping into the capabilities of Visa Direct, Visa’s real-time push payments technology, and Visa Cloud Tokenization, Visa’s new cutting-edge security capability that launches today in conjunction with payments on WhatsApp.
Thus far, Visa has seen global transactions on Visa Direct grow approximately 70 percent throughout COVID-19. With the addition of payments on WhatsApp, Visa Direct continues to power P2P services with all the major global digital platforms.
Beginning today, select Brazilian WhatsApp users will gradually start seeing the payment option on the app, where they can set up an account by adding their Visa card to start sending and receiving money. For small businesses to be able to receive payments from customers, they simply need to create a WhatsApp Business app account.
As consumers expand their use of devices for online shopping, Visa has enabled a new, cloud-based approach that allows more flexibility across their multiple devices. Visa Cloud Tokens protect and remove sensitive payment information by converting the data to tokens and storing them securely. Grounded in a flexible, standards-based approach, cloud tokens can be enabled across all of a consumer’s devices and are directly integrated with the consumer’s bank. This will help keep transactions even more secure using device biometrics and real-time threat assessments.
Brazilian consumers are the first in the world to use the new Visa Cloud Token technology to make secure payments on WhatsApp.
The Cloud Token Framework technology removes operational risks around data protection for merchants and mobile carriers, reduces unnecessary steps and friction for the consumer, and allows Visa to implement the latest industry-leading security efforts that can be applied at both the network and financial institution level.
For Visa, furthering this new generation of real-time money movement between consumers and businesses allows the company to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive.
For more information, visit visa.com.
Contacts
Caylah Novak
cnovak@visa.com
831-431-3454
