WhatsApp, Meta’s chat app, has entered the crypto space with a new pilot program launched in the United States. According to Novi’s Chief Stephane Kasriel and WhatsApp’s Will Cathcart, the app is testing a crypto payment feature supported by the company’s wallet Novi and the stablecoin Pax Dollars (USDP).
According to Kasriel’s personal Twitter account, the crypto pilot payment program has been enabled for a limited number of people in the United States. As shown in the image below, the feature allows users to send and receive money with Novi directly from the app.
The feature will be accessible from a user’s chat, where they will be able to choose the amount to be sent. They will later see the receiver’s name and the amount to be received, as shown in the image Novi will operate on a fee-free model and will allow people to connect their debit cards.
This will make sending funds with cryptocurrency and WhatsApp as simple as “sending a message,” at least in the United States. The following is Novi’s Head’s reaction to the announcement:
Since launching the Novi pilot six weeks ago, we’ve been able to test and learn which features and functionality are most important to people, and we’ve focused our efforts on improving those.
As Kasriel claimed, the Novi team has been working on making this process secure and instant without the need to pay extra for the service. In that regard, they will continue to pilot the feature in the United States at this early stage, but will seek to expand it once they have received user feedback. Kasriel stated,
Using Novi has no effect on the privacy of WhatsApp personal messages and calls, which are always encrypted end-to-end.
Payment Targets for Crypto Powers Meta
Users will be able to send and receive funds as “often as you want in a few simple steps,” according to an official Novi post. Users must create or log into their Novi accounts in order to use the feature. Novi’s “24/7 account monitoring” will be aided in detecting “suspicious activity” as a result of this.
The company claims that the financial information of its customers will be encrypted. This includes the documents, ID, and photo that each user must upload in order to access the digital wallet. Cathcart, the head of WhatsApp, stated the following about their crypto integration with Novi:
You can use your Novi digital wallet to send and receive money within a WhatsApp conversation. People use WA to coordinate sending money to loved ones, and Novi now makes it possible for them to do so securely, instantly, and without incurring any fees.