Billion dollar organisation, Facebook(Meta) Novi, is enabling WhatsApp Payments, tinkering its products to open up more opportunities for billions of users.
According to Novi, over 1.7 billion people globally have no access to bank accounts and coming up with the idea of providing financial access to people via mobile phones would be a good opportunity.
Novi is looking to disrupt the fintech sector in Africa, utilizing the billions of Facebook product installs across the world.
Also read, Facebook’s Digital Wallet Novi launches Pilot Test
Novi has different features which include instant money transfers, interoperability and as well as secure and feeless transfers.
In the pilot, Novi says it is helping people send and receive money using Pax Dollar (USDP) stablecoin via a partnership with Coinbase and Paxos.
While Novi’s ambitions span across the globe, only a limited number of people in will be able to receive and send money right from their WhatsApp chat in the US.
Meta says the Novi digital wallet is purpose-built to enable payments and to be interoperable and so, plans to move the digital wallet to their Diem blockchain network.
Novi helps you send money abroad securely, instantly, and without fees. Sending money with Novi will be as easy as sending a message because it is designed to use digital currencies.
The Novi app is available on the Google Play Store and Apple App Store.
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