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WhatsApp is likely leaning on the possibility of introducing a peer-to-peer payment system in the platform. Last year, the Pay feature reached Brazilian and Indian consumers who can opt for another form of sending and receiving money from their friends and other people.
According to the latest report, the Meta-owned application is now preparing to launch Novi digital wallet system soon. The integration will let US-based users send payments using a digital coin.
WhatsApp is Exploring New Payment System
New payment system for WhatsApp as seen in a screenshot
As XDA Developers spotted recently, the beta version 2.21.23.10 of the app highlighted that it would soon adopt Novi on the platform. Similarly, it matches with what WABETAInfo shared last October.
The news pointed out that the evidence to bring the Novi wallet was feasible. The source also showed what the interface would be like at first glance. Judging from its capability, it would favor those who rely on cryptocurrency as an alternative mode of payment.
In this regard, Pax Dollar stablecoin or the USPD will always be connected with the US dollar. The report would indicate that it would open a new competition for apps that offer similar services such as Cash App and Venmo.
Verification Process For P2P Payment
In another report by Android Police written on Tuesday, Nov.9, the shared screenshot from WABETAInfo also meant more about the feature's settings. At the time of the publication, there's a lot of code that would tell you about the verification procedure before accessing the P2P payment.
Furthermore, if you want to get through the whole process, you first need to undergo a strict requirement. This would include your ID and even a clip of your selfie. In addition, you need to pass this test before you use the feature.
The current Novi App will also ask the same requirement. We assume that when the integration of the digital wallet takes place in the platform, the process would remain unchanged.
For the time being, we expect that Whatsapp's P2P feature would come sooner in the US at any time of this year. However, Meta has not yet announced any official date for its release so users who want to access this system will have to wait for some time.
Novi Wallet and NFT
Back in August, Facebook, the former name of the Meta company, said that it would now explore the world of non-fungible tokens (NFT) through the Novi digital wallet.
The decision came after the financial service head of the firm said that they would now prioritize supporting NFT for the consumers.
Speaking of in-app payment, the social media giant also brought the QR Codes for the Messenger app thanks to Facebook Pay. With the arrival of this feature, transferring money is now made easier by just scanning a QR code.
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Written by Joseph Henry
