Facebook changes the name of its digital wallet from Calibra to Novi

By Dhivana Rajgopaul Time of article published May 28, 2020

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DURBAN - Facebook has announced that its digital wallet that was initially called Calibra will now be known as Novi. 

Facebook's digital wallet will help people send and hold Libra which is a new global digital currency powered by blockchain technology. 

"While we’ve changed our name from Calibra, we haven’t changed our long-term commitment to helping people around the world access affordable financial services. 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," said David Marcus, Head of Novi. 

Novi was inspired by the Latin words “novus” for “new” and “via” for “way.” It’s a new way to send money, and Novi’s new visual identity and design represent the fluid movement of digital currencies. The Novi brand logo has the Libra icon to underscore Novi's commitment to the Libra network.

What's in a name? We changed ours to Novi, but our mission remains: creating a #WorldWideWallet that will make money work better for everyone around the world. Check out what we're up to: https://bit.ly/3e9m2L9

Posted by Novi on  Tuesday, May 26, 2020

With Novi, sending money will be as simple as sending a message. Users will be able to use Novi as a stand-alone app, as well as in Messenger and WhatsApp. There will be no hidden charges to add, send, receive or withdraw money and transfers will arrive instantly. All Novi customers will be verified using government-issued ID, and fraud protections will be built in throughout the app. Plus users will have 24/7 access to Novi's chat-based support and customer care

"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," said Marcus. 

Facebook's digital wallet was first announced in June 2019. 

BUSINESS REPORT ONLINE

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