The services will be available only to people with cards from the following financial institutions: Banco do Brasil, Nubank and Sicredi through Mastercard. Other partners are expected to be added soon.
The tool will make it possible both to pay between individuals (P2P), as well as for merchants (P2B). P2P transactions will be available only for debit cards, while P2B transactions with both modes.
In a report released to customers, the Swiss credit assessed how the tool impacts Brazilian companies and who can gain from the arrival of the tool in the country.
The main beneficiary would be Cielo (CIEL3). According to the Swiss bank, WhatsApp will charge merchants a 3.99% fee for credit and debit transactions. The acquirer did not disclose how much it will receive from this fee.
“While transactions between individuals are free, we believe that Cielo may receive a small fee for these transactions. The fact that the shopkeeper needs to be accredited with the company to accept payments via WhatsApp, means a great opportunity for the acquirer to make additional cross-sells, ”says the report.
The partnership with Facebook (which owns WhatsApp) is seen by Credit Suisse with a strong potential to contribute significantly to Cielo’s short-term results. However, the contract with the company is not exclusive. “The addition of other buyers to the deal would likely significantly reduce the company’s potential earnings,” say the analysts who sign the document.
Less benefited companies
On the other hand, Credit Suisse says that the solution would not be so disruptive in the short term for other acquirers in Brazil, such as Stone and PagSeguro. “The adoption of new means of payment takes time. As a result, the new solutions do not appear to be a short-term threat, although it is still something to monitor ”, shows the report.
Another point highlighted by the bank is that Facebook’s payment services seem to be especially suitable for small e-businesses. “Stone and PagSeguro customers are more traditional retailers,” he says.
The bet is that the two acquirers will be able to work on both fronts in the near future: with payment processing and card issuance, which is the most relevant for PagSeguro, in the view of the financial institution.
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