Stripe and WhatsApp launch a feature that allows Singapore businesses to accept payments directly in WhatsApp chats
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US fintech Stripe announced a partnership with messaging service WhatsApp to enable Singapore businesses to accept payments via WhatsApp chats.
In-chat payment capability uses the technology of Stripe Connect and Stripe Checkout. With its help, Singaporean customers and businesses can buy and sell directly on WhatsApp, without the necessity to go to a separate website, open another app, or pay in person.
The option is currently available to a small number of local businesses using the WhatsApp Business Platform, which will include a Stripe account. Its availability will be expanded to many more participants in the coming months.
The new feature supports the most popular payment methods including credit and debit cards, as well as PayNow, a real-time payment system offered by participating banks in Singapore.
“This seamless and secure experience will transform the way people and businesses in Singapore connect on WhatsApp,” believes Stephane Kasriel, head of fintech at Meta.
“The speed and convenience of payments through WhatsApp will help businesses expand their revenue streams with new channels and access a wider customer base,” added Sarita Singh, regional head and managing director for Southeast Asia at Stripe.
Upon getting Central Bank approval to launch business payments in Brazil, in April, the same capability was introduced to Brazilian WhatsApp users, who now have the opportunity to exchange messages for transactions through this application.
Earlier, Meta & Jio launched grocery shopping on WhatsApp in India to accelerate India’s digital transformation and fuel economic growth in the country, while South African small businesses can receive payments via WhatsApp since 2021.
