Brazil's central bank has approved Meta Platforms' (META.O) payments launch for SMEs in Brazil via its messaging application WhatsApp, building on the app's existing local peer-to-peer payment system.

WhatsApp users in Brazil have been able to make payments amongst them through the application since 2021, but the new development clears the way for merchants to receive payments. Brazil is also diving deeper into the depths of Open Banking and it has started the second phase of Open Insurance implementation, which will run until July 2023. This allows for the sharing of personal data such as customer registration and movement related to products if the customers provide their consent.