Signal introduced a cryptocurrency payment system

The company said in a press release that Signal’s payment system is “fast, secure, and works well on cell phones.”

Messaging application Signal His first test began Inter-user payments, Signal Payments, Through which it is possible to send and receive money from other people in the form of cryptocurrencies.

Signal Payments is currently only being tested among UK users of the app with a beta version, although it will roll out in other countries after initial testing, Signal said in a statement.

The platform uses a default payment protocol called MobileCoin.

How it works?

Signal’s payment system is’Fast, secure and works well on mobileThe company also confirmed Uses prof Virtual Payments Protocol call MobileCoinFocused on privacy, it prevents Signal from accessing user information and funds.

Due to the use of this system, at present Signal only supports payments through MOB encrypted currencyOne of the innovators of the protocol. Users using other virtual currencies or real money will be able to convert it into this cryptocurrency.

Signal Payments It connects the messaging app to a MobileCoin wallet, so users can make payments to friends and family and receive money from them, as well as check their transaction history or send their money to another service.

And Facebook?

Digital wallets are in full blossom, The social networking site Facebook It began testing its new peer-to-peer payment experience with the Facebook push Among users (Facebook Messenger in the United States.

This new service by Mark Zuckerberg consists of using QR codes To scan from a smartphone camera to send or request money between individuals within Facebook, in a similar way to how interpersonal payment systems work on other platforms.

Facebook is expanding its payment experiences on Facebook Pay in other areas of its apps and services

Facebook is expanding its payment experiences on Facebook Pay in other areas of its apps and services.

Plus, the new experience also includes links Custom payment, So that interested parties can participate externally on the social network, either in the biography of other social networks, in signing emails, among other possible places, for the same purpose as the use of QR codes inside Facebook: Allows the ability to send and request money between individuals.

According to a TechCrunch post, it is officially known that this feature is currently being tested among Messenger users in the United States, whose spokesperson stated the following:To make Messenger payments easier, we’ve started to test people’s ability to use it QR codes and payment links When they want to send or request money“.

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Participants, in addition to being within the United States, must be users over the age of 18, and a minor must have a credit card. Visa Debit MasterCard card, Or an account PayPalOr a subsidized prepaid card or government card to use the new feature.

In this way, Facebook is expanding its payment experiences for Facebook push In other areas of its applications and services, being currently available for donations and purchases within Facebook Marketplace, Among other places, although, at least for now, it will run separately from the expected experience of Cryptocurrency walletAlthough they may work together in the future, you never know, especially when Facebook at the moment does not want to provide more information on this topic.

It happens that a new experience has begun to appear for some users, as it was first reported in the post MacRumors.

QR codes come at a time when digital payments are going through a moment of great acceptance

QR codes come at a time when digital payments are going through a moment of great acceptance.

Not surprisingly, Facebook is interested in continuing to grow its presence Facebook push In its services, although according to its current terms, it is not seen as competing with platforms like PayPal, Among other things.

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