Monday, July 4

WhatsApp tests payment with cryptocurrencies

Meta tests the cryptocurrency payments through WhatsApp, the messaging application par excellence and the most widespread in the world. The sending and receiving money is being tested through the Novi digital wallet, the digital wallet service of the technology company.

Novi is the digital wallet service that Meta launched in tests several weeks ago in the United States and Guatemala, which can be used in both English and Spanish, now it is being tested to make transfers on WhatsApp.

The group of users who can try this service will send money in Pax Dollars (USPD), a cryptocurrency stable pegged to the dollar.

As explained by the head of Novi, Stephane Kasriel, and WhatsApp, Will Cathcart, the transfer is made easily and instantly, “as simple as sending a message”, assure Kasriel, with a method “safe, instant and without charges”, that is, you do not pay anything for the service, says Cathcart.

The payment or transfer through WhatsApp is made as if an attachment was sent. The user who wants to give money to someone has the option to do so by clicking ‘Payments’ in the menu from the ‘app’. Whoever receives the USPD, can withdraw them from a Bank account, since the Pax Dollar has the equivalent value of one US dollar.

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WhatsApp does not plan to set a daily transaction limit or charge fees for the use of the virtual wallet or for transfers to bank accounts.

The company has also explained that the Novi integration will not negatively affect the encryption of conversations and will not lead to new vulnerabilities that put user information at risk.

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