According to Valor Econômico, Paulo Caffarelli, president of the debit and credit card operator, Cielo, is just waiting for the Central Bank (BC) to release financial operations via WhatsApp. The executive said that this should happen soon, as all documents have already been delivered to the agency, and the platform is ready to resume testing, as well as to enter into definitive operation.
Only the endorsement of the BC is missing
According to Caffarelli, “The Central Bank, in its right to be a regulator with global respectability, decided for good, before the process went to the market, to understand and recognize it better”. “There was no error or no communication failure”, he added.
With these statements, the executive meant that the start of WhatsApp payments operations in Brazil depends only on bureaucratic issues, since there are no technical or legal issues.
Another information confirmed by him is that there is no exclusivity in the partnership between Cielo and Facebook for the registration of transactions in the payments service via WhatsApp.
The service should emerge as a viable and attractive option, which aims to replace other established payment methods. Therefore, the fee charged for payment transactions to retailers will be 3.99%, which is lower than that currently charged by the market.
In payments made between individuals, the cost will be borne by WhatsApp.
Full Pix compatibility
Caffarelli also explained that the payments platform via WhatsApp will comply with all the compatibility requirements with Pix, which is the instant payments platform launched by BC.
Now, the BC and the market are going to discuss Pix’s collection structure, which involves defining the rate that will be charged on transactions. It is expected that the amount will be equal to what is already charged by commercial establishments.
Meanwhile, Cielo is developing its own instant payments service to compete with Pix and WhatsApp.