June 23, 2020 / 9:52 PM / 19 days ago

Brazil central bank bars Visa and Mastercard from WhatsApp payments

BRASILIA, June 23 (Reuters) - Brazil’s central bank ruled on Tuesday that Visa and Mastercard must suspend launching payments and transfers on Facebook’s WhatsApp in the country, or must cease such operations immediately, according to a statement.

The bank said it had made the decision in order to preserve the competitive environment and that if the companies failed to comply with the ruling, they would be subject to fines and administrative sanction.

Reporting by Isabel Versiani; writing by Jake Spring

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