Sending money using cryptocurrency is already a reality for some WhatsApp users in the United States: the platform integrates Novi’s digital wallet into its application, a monetary system based on the Pax Dollar cryptocurrency. With this integration, WhatsApp users who have Novi can send and receive money without leaving their messaging app.
With Facebook’s new turn to the Metaverse and the transformation of the company’s parent company into a Meta, it seemed like the primary motivation was going to be virtual reality. But no: cryptocurrencies and mobile payments continue in the wallet (Wink wink). Novi is, in fact, a company of the Meta group which is responsible for creating a money transfer gateway using crypto-currencies. And it starts to integrate with WhatsApp.
Send and receive money without leaving WhatsApp and with Novi
Process of sending money via WhatsApp. Navi image
Novi is still developing its virtual money transfer and payment gateway, a process that now publicly encompasses WhatsApp. We already knew that the two companies were collaborating, however Novi’s framework was in the WhatsApp app. Now, the payment option is enabled for some users.
As with platforms such as Bizum, Novi offers a send and receive money service that allows users to make transfers at no additional cost. For this, a cryptocurrency is used, the Pax Dollar. This cryptocurrency is backed by US dollars, hence its name.
As Novi herself confirmed, the ability to use her cryptocurrency wallet is already operational in the WhatsApp app for some users in the United States. If given the opportunity, these users they can send Pax Dollars to any contact with Novi’s wallet, it is also possible to receive the money.
Navi image
To work with Novi, it is essential to register the account with an ID and a debit card. This will be where the money will be withdrawn from, also where it will be deposited. Novi converts between real currency and Pax Dollars without adding commissions to the transaction, at least for now.
On WhatsApp, and while Novi’s wallet is active (remember, only in the US 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 accept. In case the user does not have a Navi WhatsApp account, he will be prompted to create one.
More information | Navi
Via | The edge
