Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Meta's WhatsApp makes Brazil a key test market for business messaging

Published 11/17/2022, 12:09 PM
Updated 11/17/2022, 03:06 PM
© Reuters. FILE PHOTO: The Whatsapp logo is seen in this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

By Katie Paul

(Reuters) - Meta Platforms said on Thursday its WhatsApp messaging service will introduce a commercial directory and test a payments tool in Brazil, as it bets on business messaging as a potential fresh source of revenue.

Brazil, one of the app's biggest markets, will be the first country to see the new tools deployed outside pilot programmes.

"The ultimate goal here is to make it so you can find, message and buy from a business all in the same WhatsApp chat," Chief Executive Mark Zuckerberg said in a video shown at a WhatsApp summit in Sao Paolo.

The directory will allow users to find companies with business messaging accounts on WhatsApp, enabling easier access to customer service chats, Meta said in a blog post.

Users previously needed to add a phone number to their contacts or click a link on a separate platform to open a chat with a business. The company started testing the directory in Sao Paolo last year.

The directory service will be introduced in Indonesia, Mexico, Colombia and the United Kingdom as well via WhatsApp's API, which mainly serves large businesses.

Partnering with local companies, WhatsApp will also test a payments tool in Brazil that would make in-app transactions possible with credit or debit cards.

A spokesperson for WhatsApp declined to disclose fee arrangements with the payments firms.

WhatsApp, the social media giant's biggest app in terms of daily users, piloted the end-to-end shopping model with Indian online grocery service JioMart over the summer.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Aside from JioMart, currently only personal payments can be sent on WhatsApp and only in India and Brazil.

Boosting business messaging has assumed greater urgency this year as Meta's core advertising business has stalled. The company experienced its first-ever annual revenue declines and last week laid off 11,000 employees.

Despite WhatsApp's popularity, and its eye-popping $22 billion acquisition price tag in 2014, to date it has contributed only a sliver to Meta's total revenue.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.