PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Some WhatsApp Users Can Send and Receive Funds Using Novi

By Tim Sloane
December 10, 2021
in Analysts Coverage, Digital Payments, Emerging Payments
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Some WhatsApp Users Can Send and Receive Funds Using Novi

Some WhatsApp Users Can Send and Receive Funds Using Novi

A pilot implementation in the US lets some WhatsApp users send and receive money using the Novi digital wallet. Exactly how this relates to Diem, if at all, is unclear. With trust in Meta at an all-time low and with the recent departure of David Marcus, the lack of transparency regarding how this all operates makes even small questions loom large:

“Some users of the Whatsapp messaging app in the US are now able to send and receive money using the Novi wallet, an expansion of a pilot program for the cryptocurrency payments service developed by Meta, the tech behemoth formerly known as Facebook.

A “limited number” of people on WhatsApp have access to moving money digitally with Novi, said Stephane Kasriel, Novi’s CEO, in a posting on Twitter late Wednesday. WhatsApp is a unit of Meta. Kasriel touted sending money to family and friends with Novi “as easy as sending a message.” A notice about the expanded US testing was also put on Novi’s website.

A standalone app like WhatsApp, Novi is designed to transfer money internationally and instantly with no fees to send or receive money. Payments are made through Pax Dollars, or USDP, a stablecoin created in 2018 whose value is pegged to the US dollar and whose reserves are fully backed by cash and cash equivalents.”

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: DiemDigital CurrencyDigital PaymentsDigital WalletsFacebookWhatsApp

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    recurring payments, PCI Compliance for small business, Fintech for Underserved Small Businesses

    Tariffs May Create an Opportunity in Small-Business Cards

    May 15, 2025
    Using the Card “Beyond” Payments to find the Holy Grail

    Using the Card “Beyond” Payments to find the Holy Grail

    May 14, 2025
    Payments Modernization

    Playing Offense and Defense: Why Now Is the Time for Payments Modernization

    May 13, 2025
    Authorization Rates

    Boosting Revenue for Merchants by Optimizing Authorization Rates

    May 12, 2025
    Why Payment Orchestration is the key to international merchant growth

    Ensuring Payment Decisions Pay for Themselves

    May 9, 2025
    cross-border

    As Businesses Reevaluate Cross-Border Relationships, Financial Institutions Can Help

    May 8, 2025
    Nacha WEB Debit Account Validation Rule Verification Solution, Quovo ACH Payment

    The Brave New Future of the Disappearing Account

    May 7, 2025
    solana financial

    After an Upgrade, Solana is Primed to Be the Blockchain of Choice for Financial Institutions

    May 6, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result