WhatsApp’s money exchange system may soon arrive in Italy too. The confirmation is given directly by Mark Zuckerberg even if some details are not clear. Here is what the Facebook CEO said.
WhatsApp Pay will soon arrive in Italy as well. This is one of the most important new features of the messaging service for 2020. A payment system that has already come in India a few years ago but has not yet officially appeared in the rest of the world. Users will be able to send money to other users from the application by merely chatting with them. The news comes directly from Mark Zuckerberg, during the event of presentation of the financial results of Facebook.
WhatsApp Pay: also coming in Italy
WhatsApp Pay, as announced by the founder of the Menlo Park giant, will be nothing more than a new utterly digital payment system capable of making it easy and immediate to send money from one user to another. The CEO of Facebook declares it “as easy and fast as sending an image”. In this case, the system will allow users to send money to their friends or contacts. Not only because WhatsApp Pay will also enable users to make payments on e-commerce sites that will enable them to use the new payment method.
At the moment there is no specific date from which the system will be active. But we know it will also arrive in Italy and this will happen within six months, said Zuckerberg, not mentioning any specific date. Around the world, there are practically more than 2.9 billion users per month accessing Facebook, Instagram, WhatsApp and Messenger. There are even more than 2 billion users who obtain at least one of these applications every day. Dizzying numbers that can’t be left there to die and that the CEO has thought well to use them with WhatsApp Pay.
WhatsApp Pay is a Universal Payment Interface, which means that it has a “peer-to-peer” payment interface. In that case, in India, where it is already working, banking authorities such as the Reserve Bank of India and the Government have expressed concern about the system. According to experts, in fact, WhatsApp Pay risks being uncontrollable by the authorities even if developed in collaboration with the National Payments Corporation of India and therefore transactions may be accessible by the Indian Central Bank. The problem, however, could be the number of transactions too exaggerated to be able to exercise real meticulous control over it. At this point, we will see how the app will be implemented in Europe and how users can use it to send money to each other.