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Meta's Novi wallet will allow transferring money via the popular app for communication WhatsApp.
As VP of product at Novi, Stephane Kasriel revealed, the feature becomes available today (Dec. 9) for a certain number of users in the USA. As the executive said, sending money will be as simple as a message.
We often hear that people use WhatsApp to coordinate sending money to loved ones, and Novi enables people to do that securely, instantly and with no fees. Payments will appear directly in people’s chat.
— Stephane Kasriel (@skasriel) December 8, 2021
The team presented the Novi pilot 6 weeks ago and continued to test its features. In a tweet, Kasriel said that the pilot is in the early stage and the team decided to test the entry point in the USA. Next, the executive mentioned that Novi keeps WhatsApp's privacy and data is encrypted.
The platform says that money transfers in the app’s chat will be instant, secure and will not require fees.
Users just need to log into their Novi accounts, or open new ones. Both, iOs and Android support the feature.
When users add money to their wallet, the app converts it to a stablecoin Pax Dollar (USDP).