written by
Taric Andrade

The Central Bank of Brazil (Bacen) relaunches WhatsApp Pay, and Cielo goes up on the stock exchange.

Finance 1 min read

According to the Brazilian media, the companies involved in the project were notified informally by the monetary authority. WhatsApp Pay has been banned since June 23rd.

Bacen claimed that it needed to better understand the transparency of the operation. Besides, WhatsApp Pay came at a terrible time for the Brazilian government, which had already announced the launch of its own instant payment system, a.k.a PIX, scheduled to launch on October 5th.

WhatsApp is the mobile tool most used by Brazilians, about 98% of cell phones have WhatsApp installed. Facebook will have to adapt to include PIX in WhatsApp Pay to avoid future problems with the Brazilian government.

According to a source, Cielo will start the tests as soon as the formalization of the Bacen arrives.

The lack of officialization did not prevent Cielo from capitalizing on the news. The company's shares on the Brazilian stock exchange rose 9% last Friday. However, newspapers still do not recover from their level right after their June launch. After an increase, shares fell with the Central Bank's decision that month.

In addition to Cielo, Nubank, Banco do Brasil and Sicredi, and Visa and Mastercard card operators participate in the project.

WhatsApp Cielo WhatsApp Pay Facebook Bacen Cade Mastercard Visa