Brazil’s antitrust watchdog is asking Facebook to explain the fee structure for its short-lived payments service launched in June in partnership with card processor Cielo, according to a document seen by Reuters.
The service on Facebook’s WhatsApp messaging platform was blocked by Brazil’s central bank eight days after the launch.
Facebook and Cielo have stated the deal did not exclude others from joining. The antitrust watchdog also asked Facebook to explain how it reached agreements with Cielo and card issuers Nubank, Banco do Brasil, and Sicredi.
Full Content: Reuters