WhatsApp, the messaging platform owned by Meta, has launched an in-app feature in Singapore, to enable users to pay local businesses through chat.
This feature enables those in the Asian country with a WhatsApp registered number to pay using credit cards, debit cards, or PayNow through their WhatsApp chat.
Consumers can and businesses can now buy and sell directly on the messaging platform without having to go through the hassles of a website or applications to buy and make transactions.
The head of fintech at Meta, Stephane Kasriel, while speaking on the launch of this feature in Singapore said, “This seamless and secure experience will transform the way people and businesses in Singapore comment on WhatsApp”.
Also speaking on the launch of the feature is the regional head and managing director for Southeast Asia at Stripe, Sarita Singh who said, “Most people I know in Singapore use WhatsApp to chat with each other. Now, they can pay local businesses using the app as well. The speed and convenience of payments through WhatsApp will help businesses expand their revenue streams with new channels and access a wider customer base”.
WhatsApp disclosed that there is no limit to how much users can pay in a single transaction, noting that no fees will be charged for the service. Also, the company said that this feature is only available only to a few businesses at the moment, but it plans to expand the availability to more merchants over the coming months.
On payment security measures, WhatsApp disclosed that it works with trusted payment partners which are required to comply with industry data security standards.
The launch of this feature in Singapore is coming after WhatsApp launched it in Brazil last month, for users to directly pay businesses through chat. Investors King understands that the feature is built on Stripe Connect and Stripe Checkout. Singapore businesses that accept payments with WhatsApp chat can also gain access to the Stripe Dashboard, a powerful tool for managing all of their Stripe data in one place.
Supported payment methods include credit and debit cards, and PayNow, a real-time payment system popular in Singapore.
