Today, Facebook has introduced Novi — the new name and brand for the digital wallet that will help people send and hold Libra digital currencies.
According to Facebook, Novi is a rebrand from Calibra aimed at helping people around the world access affordable financial services. With Novi, sending money will be as easy as sending a message. Users will be able to use Novi as a stand-alone app, as well as in Messenger and WhatsApp.
The giant social media platform promises that there will be no hidden charges to add, send, receive or withdraw money and your transfers will arrive instantly. Additionally, all Novi customers will be verified using government-issued ID, and fraud protections will be built in throughout the app. And, whenever you need it, you’ll have 24/7 access to the Novi chat-based support and customer care team.
The first product Novi Financial will introduce is the Novi digital wallet designed for Libra, a new payment system which is built on innovative blockchain technology.
Our hope is to introduce an early version of Novi when the Libra network is available. We’ll roll it out in an initial set of countries, with features that will make cross-border money transfers instant, secure, and with no hidden fees.Facebook statement
Whether you’re sending money home to support the family members who supported you, or you’re receiving money from your friends no matter where they are, the Novi wallet will make money work better for everyone.
Novi Financial is a subsidiary of Facebook that operates independently from Facebook, and is headquartered in Menlo Park, California.