Signal Tests New Payment Feature Via Cryptocurrency In UK
New Delhi: Cross platform messaging service app Signal is currently testing its new payment feature on beta version of its app. Very soon users across the globe will be able to use Signal to make payments among their contacts.
The new feature is called Signal Payments and is currently available in the United Kingdom (UK). It supports a privacy-focused payments network called MobileCoin, which has its own currency, MOB.
The company said it aims payments in Signal to be fast, private, and work well on mobile devices.
“Signal Payments makes it easy to link a MobileCoin wallet to Signal so you can start sending funds to friends and family, receive funds from them, keep track of your balance, and review your transaction history with a simple interface,” the company said.
— Signal (@signalapp) April 6, 2021
“As always, our goal is to keep your data in your hands rather than ours; MobileCoin’s design means Signal does not have access to your balance, full transaction history, or funds,” said Jun Harada, Signal’s head of growth and communication.
“You can also transfer your funds at any time if you want to switch to another app or service,” he said in a statement late on Tuesday.
“If you want to give it a spin and let us know what you think, it’s possible to convert to/from MOB on FTX and other exchanges soon”.
Signal’s rival WhatsApp had already introduced payment feature on its platform. In India, WhatsApp had launched payments facility through its platform in 2020.
(With inputs from IANS)