South American e-commerce firm MercadoLibre is carrying out discussions with Meta to launch payments processing facility to the users of WhatsApp messaging platform, the firm’s CFO Pedro Arnt told Reuters.
Both the firms plan to introduce the service initially in Brazil, which is considered one of the top markets for WhatsApp.
Go deeper with GlobalData
The proposed payments tool will help WhatsApp users in Brazil to locate a firm’s account via a directory as well as undertake in-app payments using credit or debit cards.
Last month, Meta, which owns WhatsApp and Facebook among others, revealed that it would roll out a payments tool in Latin America’s biggest economy.
This move will enable WhatsApp users to chat and purchase from a business directly.
In the interview, Arnt said: “We are in the test phase as one of the partners that processes payments in Brazil.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataArnt added: “This could be an opportunity for us to leverage WhatsApp efficiently to generate more sales and better customer contacts.”
However, he refrained from revealing the stages of the test or the amount of revenue that could be earned by the company’s financial unit Mercado Pago.
Mercado Pago is one of the firms that has the required technical integration capabilities, according to WhatsApp. Several of those capabilities were also taking part in the production testing.
In July this year, Reuters reported that MercadoLibre forged an alliance with American money transfer firm Western Union to enable digital remittances to Mexico.
