WhatsApp users in Singapore are now able to buy and sell products or services directly through the messaging app, thanks to a new payment feature. The new payment option will be available to Singapore-based businesses using the WhatsApp Business Platform. This new service is supported by Stripe, with the company stating that it works with trusted payment partners to ensure the security of users’ information.
According to WhatsApp, this feature is already available in Brazil and India. It was first launched in Brazil in June 2020, marking the first time Facebook’s payments platform was integrated with WhatsApp. The addition of the payment feature is expected to boost sales and simplify transactions for businesses and customers alike. Several local businesses in Singapore, such as Tye Tye, Baker’s 13, and Love Handle, have already adopted the new payment system, with more businesses expected to join in the coming months.
WhatsApp’s new payment service is equipped with industry-standard security features, such as encryption and tokenization, to ensure that users’ information is secure. The payment partners are required to comply with the payment card industry data security standards and provide fraud detection to protect users. That is why, in order to use the feature, customers need to pay using only Visa, Mastercard, or American Express credit or debit cards or via PayNow.
In addition, WhatsApp policies require the verification of users’ legal names and identities to be eligible to use payments on the platform. Customer information is not processed or seen by WhatsApp but goes directly to the payment partner, ensuring the privacy and security of users’ data.
Source : CNA