How to use WhatsApp Pay?
WhatsApp announced this month of June that its messaging application will now send and receive money through WhatsApp Pay. The feature, which promises to facilitate bank transfers between users, was being tested in India and will be implemented in Brazil in the coming weeks. Gradually, the feature will be available to customers of the app's partner banks (Banco do Brasil, Nubank, Sicredi, and Woop).
To carry out transactions such as payments, transfers, or sending and receiving money using the app's Payments mode, it is necessary to set up a debit or credit card from a company that partners with Facebook Pay.
The WhatsApp and Facebook apps will not charge transfer fees. However, banks may apply usage fees.
But you must be crazy to know a little more about this feature, aren't you?
Check out more information about WhatsApp Pay now:
What is this new WhatsApp feature?
WhatsApp Pay is a new feature of the messaging app. It was created to transfer money via WhatsApp. In this way, this feature allows users to receive and send money to friends and family, in addition to making payments to companies through WhatsApp Business. The service is provided by Facebook Pay, which means that it is necessary to configure a debit or credit card on the platform. The feature does not charge service fees to users and payments can be viewed at any time, in the “Payments” tab, which is within the “Settings” option in the application's settings menu.
How does WhatsApp Pay work
For personal account users, there is a limit of 1,000 reais per transaction. Of which 20 transactions can be carried out per day. And, per month, the amounts cannot exceed the amount of 5 thousand reais. While it doesn't charge fees for transfers between personal accounts, WhatsApp Business has a 3.99% fee for processing sales.
On the bank statement, the transactions appear as “FBPAY *WA” or “FBPAY -WA” followed by the name of the person who received the money.
There are some steps indicated by the transfer status, such as: “Requested”, “Processing”, “Pending”, “Done”, “Not completed” and “Expired”.
Transfers between personal account users can only be made using debit cards. The credit card payment feature, however, is only available to companies that use WhatsApp Business.
But do you know what Facebook Pay is?
Facebook Pay is a payment feature provided by Facebook, which owns WhatsApp. Through the service, transfers and payments can be made through the messaging application and for the purchase of games on Facebook.
The most interesting thing is that because the platforms are integrated, it is not necessary to have a Facebook account to use Facebook Pay. To use it, just configure the feature on WhatsApp. To do this, tap the clip in the lower right corner, next to the phrase “Enter a message” and then go to “Payments”, add the amount you want to send and tap “Get started” to add the payment method. Then, accept the terms of use, if you agree, of course, and you will be asked to create a PIN for Facebook Pay, in addition to having to provide your full name and social security number. Finally, just enter the card details and validate it using the verification code.
What banks and cards are accepted by Facebook Pay
Visa and Mastercard credit or debit cards are accepted for WhatsApp transactions. The app's partner banks are Nubank, Banco do Brasil, and Sicredi.
How to send money via WhatsApp
To make payments or send money to family and friends, it's important that you first set up Facebook Pay in the app. Then, go to the “Payments” function, which is inside the clip in the lower right corner, enter the amount, tap “Pay” and confirm your PIN.
Thus, it is also possible to send or request payments in groups. However, privacy is lost, as everyone in the group will have access to payment information.
Now we come to the most interesting topic, how to receive money through WhatsApp?
It's simple, however, Facebook Pay must be configured in the app, as mentioned above. That being correct, you just have to tap “Accept payment” and the amount will be transferred to your account at one of the banks accepted by the app.
I'm a merchant, what do I do?
Companies registered with WhatsApp Business can offer their products and services through the platform. Thus, to be paid through the app, it is necessary to have configured Facebook Pay, create or connect a Cielo account and provide the bank account details to receive the corresponding amounts.
Setting up Facebook Pay in WhatsApp Business is simple as well. Just go to “Settings”, “Payments”, “Services” and then “Facebook Pay”. Check “Receive payments for sales” and click “Continue”. Accept the app's terms of service, create or connect a Cielo account, and enter all the requested data.
Other important information:
- The transactions are carried out by Cielo, so it is necessary to have an account registered with that company.
- The bank account verification takes about three days.
- Customer payments are transferred from the Cielo account to the bank account within two business days.
- And, as stated before, there is a fee of 3.99% on the amount of each transaction.
Step by step for using WhatsApp Pay
- Open the conversation with the contact to whom you are going to send the money.
- Tap Attach and go to Payment
- Tap CONTINUE on the Facebook Pay screen
- Then, tap CONTINUE again to accept the WhatsApp and Facebook Payment Terms and Privacy Policy.
- Create a 6-digit password for Facebook Pay
- Re-enter that password and tap NEXT
- You can use digital printing if you prefer. To do this, tap USE FINGERPRINT.
- Enter your first name, last name, and social security number and tap NEXT.
- Add your card details, including your debit card number, expiration date, and CVV code.
- Tap SAVE
Remark:
You must be at least 18 years old and have a debit card issued by a WhatsApp partner bank to send and receive money through the app. The partner banks are: Banco do Brasil, Nubank, Sicredi and Woop.
Sell and sign contracts through WhatsApp Pay
The digital revolution is so advanced that it is now possible, in the palm of your hand, to sell a service, receive payment for it and sign the contract just using the messaging application. All in the same tool integrated with other service platforms, which together create a true web of technology to make life easier for companies and customers.
Therefore, the service is sold using WhatsApp Business. With the Clicksign Automation, the contract is signed via WhatsApp. And with the new WhatsApp Pay feature, you can receive the agreed amounts for the services or products.
It's technology uniting tools, companies, and people.
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