WhatsApp Pay has received regulatory approval to begin operations in Brazil. The new service emulates the WeChat Pay experience, but different contexts affect potential uptake.
Consumers make payments every day through a variety of payment methods, such as cash, cards, transfers etc. The modernization of the market brings even more options with digital and instant payments like digital wallets and Pix. Digital transformation also enables new business models. Follow the evolution of the payments market here!
In 2020, retailers were forced to close or reduce the activity in physical stores. At the same time, consumers sought ways to protect themselves from Covid-19 when shopping. In this context, the use of debit cards, remote sales, and contactless payments have grown. At the end of the year, cards transacted 46% of household consumption in Brazil.