By Alicia Maher
WhatsApp communication software under its parent company, Meta, has launched a test payment program in the United States. The company’s big wigs say it is an app designed to test crypto payment functionality. This pilot program is supported by Novi, which is the WhatsApp wallet and USDP, a stablecoin.
Novi Wallet In Test Run Phase
Officials at WhatsApp said the payment feature is open for a partial test run for a specific group indigenous to the United States alone. The big wigs at WhatsApp further revealed on Twitter that the new application would facilitate money transfer via the app.
This attractive payment option is displayed on the users’ chat interface. The user can also change the amount to send. Starting, Novi is testing the waters with a free subscription. This way, they can convert their over 1 billion users worldwide to active users. At the start, users can facilitate the transfer of assets by connecting their debit cards.
In terms of decentralized finance and its possibilities for this innovation, it is clear that financial exchange will become more accessible and convenient on mobile. Similar to sending a message on a messaging app. Barely six weeks when the pilot program was launched, the team at WhatsApp had tested and understood the features that people would love. They had also discovered the functionality a lot of people consider necessary. Therefore, they are focusing efforts on optimizing acceptable functionalities.
Safety, Instant Service, And No Transaction Fees Are Major Concerns
Besides, the Novi wallet team is concerned about safety, instant service, and lesser transaction fees. While they have their eyes on expanding the project into international markets, the team is presently content with adopting the functionality to the United States. Expanding into other markets will be based on customer feedback. Currently, the team continues to work on the wallet’s safety features. The team at Novi is not changing the privacy of WhatsApp personal messages and calls. These features are usually end-to-end encrypted for everyone.
Creating An Account And Uploading Documents Are Requisites To Integration
The team at Novi says fund transfers will be simple. However, full exploration of the feature requires users to create an account on the payment platform. Without it, the team at Novi might not provide daily monitoring of users’ accounts. By creating an account with the payment gateway, the team can prevent illegal financial activities.
Encryption runs deep into the infrastructure of the Novi wallet. All financial information will be encrypted. This includes documents, ID, and photos; every user is asked for verification. These documents are uploaded to grant the user access to the full functions of the wallet.
Novi digital wallet is likely to become the next big thing globally adopted. People can do much more with a messaging app, like sending money to their loved ones almost instantly. With just your WhatsApp and internet, nobody will remain stranded due to insolvency.
The good thing is that Novi assists people in sending and receiving money securely and instantly without transaction fees or hidden charges.