Social media giant Facebook has its own “new” within its backyard.
No, we’re not talking about management shuffles, but more of introducing a new name for its digital wallet. From the old version called ‘Calibra’, it will not be renamed to ‘Novi‘. The rebranding is set to ramp up the access of its Libra currencies.
Derived from the Latin words “novus” and “via”, Novi is just one of the steps of Facebook to eventually delve into other world currencies like the US dollar, the British pound,
Alongside the name change is a new logo that resembles a wave. The symbolism is meant to keep up the times and the changing times.
Though a standalone app, Novi would later soon with WhatsApp and messenger to ease smooth sending digital money to your respective contacts and connection.
To be able to log in, you’ll be required to use a government ID.
According to digital wallet project manager David Marcus said that Novi aims to send money as easy as sending messages. It is anchored on building more opportunities in financial services and expanding the e-commerce business of Facebook.
It works by adding money to an e-wallet. These, later on, can be converted into a Libra digital currency that can be transmitted to friends and family around the world at one’s fingertips.
Other rivals who wish to join the Libra system are free to join the emerging trends.
According to experts, Libra has lowered costs compared to usual banking systems and has many kinds of payments and transactions. It will be remembered early in October that then Calibras had a bumpy ride during its pioneer launch as it got a resemblance with startup bank Current.
Aimed at making money move more freely, for more people. Novi helps you have a balance in the wallet and/ or get money in your local currency anywhere you wish to.