Sending money using cryptocurrencies is already a reality for some WhatsApp users in the United States: the platform integrates Novi’s digital wallet into its app, a monetary system that is based on the Pax Dollar cryptocurrency. Through this integration, WhatsApp users who have Novi can send and receive money without leaving their messaging application.
With Facebook’s new turn towards metaverses, and the transformation of the company’s parent company into Meta, it all seemed like the main motivation was going to be virtual reality. But no: cryptocurrencies and mobile payments continue in the portfolio (wink, wink). Novi is, precisely, a company of the Meta group that is responsible for creating a money transfer gateway using cryptocurrencies. And it begins to integrate within WhatsApp.
Send and receive money without leaving WhatsApp and with Novi
Novi is still developing its virtual money transfer and payment gateway, a process that now publicly encompasses WhatsApp. We already knew that both companies were collaborating, however Novi’s framework was in the WhatsApp application. Now, the payments option is activated for some users.
As with platforms such as Bizum, Novi offers a money sending and receiving service that allows users to making transfers without any additional cost. For this, a cryptocurrency is used, the Pax Dollar. This cryptocurrency is backed by US dollars, hence its name.
As confirmed by Novi herself, the option to use her cryptocurrency portfolio is already operational in the WhatsApp application for some users in the United States. If they have the option, these users they can send Pax Dollars to any contact with Novi’s wallet, it is also possible to receive the money.
To operate with Novi, it is essential to register the account with an identity document and a debit card. It will be from there where the money will be withdrawn, also where it will be deposited. Novi converts between real currency and Pax Dollars without adding commissions to the operation, at least for now.
On WhatsApp, and as long as Novi’s wallet is active (remember, only in the United States for now; with Guatemala as an added country), just click on the clip and select “Payment” (“Payment”). You choose the recipient, the amount and click on accept. In the event that the user does not have a Navi WhatsApp account, they will be prompted to create one.
More information | Navi
Via | The Verge