The news arrives just over a week after the payment service launched in Brazil. The south-American nation is Facebook’s second-largest market for WhatsApp.
According to a Bloomberg report, the central bank made the decision to “preserve an adequate competitive environment.”
The watchdog has enforced the suspension without much further information.
However, the central bank has said that the suspension gives it time to determine whether WhatsApp Pay fully meets its rules.
It has also implied that Visa and Mastercard could face regulatory fines if they do not comply with the hold-up.
