Last Updated on 22/11/2021 by Sanskriti
WhatsApp has been observed integrating the Novi digital wallet, which lets users make transactions and send money throughout the world using the instant messaging service and a bank or credit card. This new development has been observed in some android after the update. Although the user has to verify himself by submitting documents in order to use the facility.
Despite the fact that WhatsApp has yet to confirm the connection, WhatsApp’s parent company, Facebook, has revealed intentions to consolidate all of its payments and financial services under the Nova market, as well as rebranding as “Meta.” Novi Integration was revealed at the time when WhatsApp for Android version 188.8.131.52 was taken down and New Lines of Codes was discovered.
The phrase in the code, in particular, indicates that it allows customers to deposit money globally via digital exchange.
Before enabling the new money transfer feature, WhatsApp users may be requested to provide papers for verification. Users will also be forced to shoot a video selfie as part of the identity verification process. The Novi integration references were discovered in WhatsApp beta version 184.108.40.206, according to WABetaInfo, which tracks WhatsApp beta releases. To demonstrate the improved experience, a screenshot was also published on social media.
David Marcus, the CEO of Facebook’s FinTech arm, stated last month that the parent company’s payments and financial services, and products will be unified under the label Novi.
The Director said, “Some of these products are branded with Facebook Pay, some are unbranded, and our wallet operates under the Novi brand. So over time, we will unite all existing and future payments and financial services experiences under the brand Novi.
In order to penetrate the digital remittances market, Facebook launched its Novi digital wallet as a modest trial in the United States and Guatemala. However, it appears to move beyond these two areas, offering Novi to a huge number of WhatsApp users over time. It’s worth noting that the initial mentions pointing to the new integration originate from beta test channels. This might indicate that WhatsApp (or the earlier Meta) has alternative ideas. Due to regulatory restrictions, the shift is likewise unlikely to occur in the near future in India.