Facebook Novi: International money transfers for free

For some reason, I can't seem to submit the real announcement on HN: https://www.facebook.com/800665194/posts/10166121490710195/?...

(It looks like HN forbids any link coming from Facebook.)

In any case, congrats to the team! This is a big milestone. I'm wondering what this USDP or Paxos is though :)

> Each customer is verified with a valid government-issued photo ID to help ensure everyone signing up for Novi is who they say they are.

And from their privacy policy:

> Novi will only share information with other Facebook Companies to help us keep Novi safe for everyone, comply with the law, provide basic functionality, and allow Novi to advertise its services.

Uh huh... also:

> Novi works with affiliates, such as Facebook, Inc., as well as with third parties who help us provide and support our Services. We don’t sell your information.

Yes, of course you don’t sell our information! You just give it away for free in an intra-company transfer!

The worst part about this thing is, they’re only keeping the transfers free “Today.” They’re running a shady data-mining operation and they can’t even guarantee they’ll maintain the standard Faustian bargain? Lame.

Found this on their YouTube channel:

How is Novi related to Facebook? https://youtu.be/mqhPoS8HfpE

For now, maybe.