WhatsApp update brings payments to users in Brazil

'We're making sending money to loved ones as easy as sending a message,' says a spokesperson for the Facebook-owned app

WhatsApp users running the messaging app on Android devices complain about battery issues with the latest update (Getty Images)

The latest WhatsApp update now allows users in Brazil to send and receive money through the popular messaging app.

Payments can be made either to individual WhatsApp users or to businesses that accept digital payments through the app.

"We're making sending money to loved ones as easy as sending a message, which could not be more important as people are physically distant from one another," a WhatsApp spokesperson said.

"Making payments simple can help bring more businesses into the digital economy, opening up new opportunities for growth."

The Facebook-owned app claims that there are over 10 million small and micro businesses in Brazil that could benefit from the new payment service.

Businesses will be required to pay a processing fee when accepting payments through WhatsApp, however money transfers between individual users will be free.

Users will be required to enter either a six digit PIN or scan their fingerprint in order to authorise transactions.

Debit and credit cards from supporting banks can be linked to a user's WhatsApp account, with Banco do Brasil, Nubank and Sicredi on the Visa and Mastercard networks initially supported.

The system is enabled by a partnership between leading payments processor Cielo and Facebook Pay, which could potentially be rolled out to other Facebook-owned apps like Instagram and Messenger.

Brazil is WhatsApp's second largest market behind India, with around 120 million people using the app each month.

If successful, the feature will be introduced to other markets, potentially opening up instant WhatsApp payments to more than 2 billion people around the world.

"We look forward to bringing it to everyone as we go forward," the spokesperson said.