WhatsApp announced a new payment feature that will let users send and receive cryptocurrency right within the messaging app, thanks to an integration with the Novi digital wallet. It is noted that sending and receiving money via WhatsApp will be as easy as sending messages.
The pilot program is currently available only to a limited number of US users in English and Spanish. To send money instantly, the users need to tap the "+" icon on iOS or the paper clip icon on Android and select "Payment" in the menu.
Payments are made using the Novi digital wallet, owned by Meta (former Facebook), in the form of Pax Dollar (USDP) stablecoin, the value of which is linked to the US dollar. On Novi, 1 USDP is equal to $1.
WhatsApp notes that users will be able to send and receive money directly within their chats with no fees or commissions. Payments will not affect WhatsApp end-to-end encryption, which is set by default for all private conversations.
Novi also says that users will be able to store money in a crypto wallet for free or withdraw it to their bank account.
You can find more information on WhatsApp's integration with the Novi platform on the company's website.
In early December, Uber announced a partnership with WhatsApp to allow its customers from India to book their rides right via WhatsApp Messenger.