Credit card on WhatsApp: how does it work?
In recent months, a WhatsApp update has been attracting a lot of attention from those who use the messaging app: the direct payment function through the app, therefore, Is it possible to have a credit card on Whatsapp?
Now, in addition to chatting and sharing photos, videos, and stickers, this new feature allows users to make payments and financial transactions using the app's features, without the need for banking apps, for example.
But how does it work? Is it safe? What types of transactions can I make? To help you answer these questions, we've prepared this content, where we'll explain a little about this new feature.
Advertisements
In it, we will cover the following topics:
- What is WhatsApp Payment?
- How do payments work?
- Payment and transfer limits
- The main advantages of this payment method
- Safety First
- Conclusion
What is WhatsApp Payment?
The payment service directly on WhatsApp is offered by Facebook Pay – an official Facebook product. It allows users to send and receive money via WhatsApp securely, quickly, and without fees.
With this new feature, users can receive or transfer money to their contacts and make payments for services provided or contracted between individuals, for example.
To use the service, users must add a prepaid card, debit card, or multiple card with debit functionality issued by one of the participating banks or partners. We've compiled a list of the currently participating banks and card brands:
- Bank of Brazil: Visa
- Banco Inter: Mastercard
- Bradesco: Visa
- Itaú: Mastercard
- Mercado Pago: Visa
- Neon: Visa
- Next: Visa
- Nubank: Mastercard
- Santander: Mastercard
- Sicredi: Mastercard and Visa
- Woop, Sicredi's digital account: Visa
It's worth remembering that, as the service becomes more popular, the number of financial institutions joining the service tends to grow, making this list even longer!
How payments work with credit card on Whatsapp
Through this new function, you can make payments by credit card directly through WhatsApp conversations to family and friends without bureaucracy or fees.
To help you get started using this feature, we've put together a quick step-by-step guide explaining how it works.
To add a payment method:
- Open the conversation with the contact you want to send money to. Then tap Attach, and then click the Payment option.
- Tap CONTINUE on the Facebook Pay screen.
- Click CONTINUE to accept the Terms of Service and Privacy Policy for Payments on WhatsApp, Facebook, and Cielo.
- Create a 6-digit PIN for Facebook Pay. This password will allow you to control your payments.
- Enter your Facebook Pay PIN again to confirm it and tap NEXT. At this point, you'll have the option to use your fingerprint instead of entering the PIN manually. If you don't want to, just skip this step.
- Fill in the fields with your full name and CPF, and tap NEXT.
- Enter your full address and tap NEXT.
- Add the details of the card you want to register, including the number, expiration date, and CVV code.
- Tap SAVE.
After adding your credit card details to WhatsApp, you'll need to verify it using a code sent to your email or through your bank's app. After this process, your card will be verified and ready to use!
Payment and transfer limits
There are daily and monthly limits on the amount of money you can send and receive. You can send up to R$ 1,000 per transaction and receive up to 20 transactions per day, or R$ 5,000 per month. Once you reach the limit, you won't be able to send or receive any more amounts until the next period.
The main advantages of credit cards on WhatsApp
I don't even need to say that ease is the main one, right?
Since users have the freedom to receive and make payments directly through WhatsApp, one of the strengths of this feature is the practicality and agility of making financial transactions without leaving the app, simply, quickly, and in one place!
Another very positive point that paying with a credit card on WhatsApp offers is the absence of fees, which are very common in more traditional bank transactions.
Safety First
Of course, this is the main question for those who have not yet used this new function.
Because payment information needs to be passed to responsible financial institutions, transactions cannot be protected with end-to-end encryption.
But WhatsApp guarantees that the data provided is stored on a network with a high level of security and all payments made through WhatsApp are protected by security systems, such as the Facebook Pay PIN and your cell phone's biometrics.
But, like any other type of online financial transaction, using this resource requires caution. Some standard measures should be taken, such as:
Pay attention to links received via WhatsApp. A very common practice among scammers is to use seemingly harmless links in order to clone users' accounts.
Use with caution
Don't share your card details or Facebook Pay PIN with anyone! This information is personal and non-transferable. Therefore, for your security, it should not be shared with third parties.
Since you can register more than one card, always check which card is being used when making a transaction. If more than one card is registered, one of them will be given priority for payment.
In this situation, if the user wants to pay with another card, they must manually change it when making the transaction.
Conclusion
Despite being a relatively new feature for users, this WhatsApp feature has all the practicality to become an excellent alternative for making everyday payments and transfers.
Our bet is that, with its popularization, this resource has everything it needs to gain popularity and become a favorite among Brazilians, just as it did with the launch of Pix.
What do you think of this new WhatsApp tool? Do you think it's a good alternative for everyday use, or do you prefer to continue conducting your financial transactions in the more traditional way?
Did you like the content?
Enjoy reading “Credit card for self-employed people with bad credit”. Keep following our content!
