Visa to Power New WhatsApp Payments Feature in Brazil
Visa (NYSE: V) announced Monday that its technology has been selected for a new peer-to-peer (P2P) payments system in Facebook's (NASDAQ: FB) popular WhatsApp messaging software in Brazil.
Visa did not specify financial terms or provide an estimate as to how the new arrangement would impact its business. But the move does expand Visa's reach in a massive market.
The finance sector giant will utilize Visa Direct, a real-time push payments solution, to power the WhatsApp transactions. As for security, it will implement a technology that is launching in conjunction with the WhatsApp Brazil rollout, Visa Cloud Tokenization.
Source Fool.com
