whatsapp payments in Brazil is suspended in by central bank.

Brazil's central bank has disabled the whatsapp paying feature in the country.In a statement the central bank announced that they have taken the decision to ensure that there is high competition in the payment system in the country to enable balanced economy.

According to Bloomberg's report ,Brazil's central bank has suspended facebook Inc whatsapp payment feature in the country, the app's second-biggest market with with more than 120 million users.the decision aims to preserve and adequate competitive environment that ensures the functioning of a payment system interchangeable, fast,secure,transparent, open and cheap. 

Following the recent updates on the suspension, a whatsapp spokesperson said in a statement.

"Our goal is to provide digital payments to all whatsapp users in Brazil using an open model and we will continue to work with local partners and the central bank to make this possible, In addition we support the central bank PIX project on digital payments and together with our partners are committed to work with the central bank to integrate our systems when PIX becomes available".

Bloomberg's report says that facebook Inc was surprised at the suspension despite them and the country's authority has been in touch, but since the deal with the country remain a prioritized investment to the company's profit and outreach they continue to work with the terms and conditions given to them by the Brazilian authority.

The Central Bank of Brazil cites that they made the decision so as to maintain proper balancing of E-commerce and payment systems through tech companies doing business with the country as they also told Visa Inc and Mastercard Inc to stop using the app to transfer funds to the country and that they could be fined.

This decision is to enable the payment system to not be dependent on one source.