Business

Mexican bank announced feature for banking transactions in WhatsApp

Mexico-WhatsApp-Payments
  • In June, Azteca bank will start to allow their users to make bank transfers, balance verification, and even open a new banking account in WhatsApp.
  • The services will be available 24h per day every day of the week.
  • Facebook has already announced that they have a special team working in payments solutions for WhatsApp, but it can take time until the feature starts to be launched.

That WhatsApp won not only Latin America but also other important emergent markets worldwide isn’t anything new. Going beyond being just a messaging app, WhatsApp became also a synonym of business opportunity.

Get to know more about it: Discover the exclusive study made by LABS about the impact of the WhatsApp for businesses in Brazil.

While the app’s popularity keeps growing more and more, a lot of rumors were created around the possibility of having a payments function inside of the WhatsApp itself. Until that last month, Facebook has announced the beginning of an official project with an exclusive team for making real the users desires of making payments using the app. The initial plans of the company are considering Índia as the first market for tests, but Latin America isn’t getting behind.

Last week, the Azteca Bank has announced a partnership with WhatsApp to launch a new digital channel of financial services that will offer for the users the options to make bank transfers, balance verification, and even open a new banking account, according to the Mexican news site Xataka.

All of these features will be unlocked for Mexican users gradually after the official release of the pilot project expected by the end of June and, like already happens with their own internet banking app, will be available for the user 24h per day all days of the week.

Other finance institutions have already launched similar actions, but with features that can connect the internet banking app of these institutions to WhatsApp by creating a special keyboard, for example, not making the transaction itself through WhatsApp.

The market is moving faster every day to enjoy all of WhatsApp potential and as the Latin Americans are heavy-users from the app, this could be the next great chapter of payments story in the region.