WhatsApp is used by 80% of the population
The policy would open the door to ads being shown on the messaging service.
Currently, EU privacy law doesn't allow for data to be shared between Facebook and WhatsApp.
According to the Irish Independent, the deadline to accept the policy terms is Saturday, May 15th.
The paper's Technology Correspondent, Adrian Weckler, says people will be blocked on a phased basis:
"You'll start to see messages saying you haven't agreed and you must agree," he said.
"Then it'll cut you off from your chat list but you'll still be able to receive messages and take calls."
"After a few weeks, it will cut off the functionality altogether."
"You will see a permanent pop up on your WhatsApp screen that will say 'You must click accept' or you can't use WhatsApp anymore."