WhatsApp rival Signal now allows users to make payments through cryptocurrency – Times of India

Payment feature of WhatsApp’s rival Signal is now available globally. This means just like WhatsApp users, Signal users can now also use the encrypted messages app to send and receive payments. But there is a catch, the platform only supports transactions through MobileCoin cryptocurrency. As per Signal’s support page, MobileCoin is a cryptocurrency designed to be used as digital cash on your phone. The company claims that the information about the transaction is private and details about the sender, receiver, amount transferred, and message are all unknown to Signal.
The payments feature is available for Signal users who use the app version 5.27.8 or later on Android smartphones or app version 5.26.3 or later on iOS devices. Users also need to have their Signal PIN enabled to access the feature. To activate the payments feature you can go to Settings > Payments > Activate Payments > Accept and Agree to Terms.
According to Signal, Transaction details, including the payment amount and time of transaction, are part of the MobileCoin ledger and are unknown to the platform. All fees are determined by and collected by MobileCoin, not Signal. Coin Cleanup Fee is charged when the coins in your possession can not be combined to complete a transaction. It is also known as a defrag fee.
If you want to send a payment to someone using the Signal app, you can follow these steps:-

You can not cancel a payment once you have hit send. You can message your contact and ask them to send you a payment. If you hit Send, your payment will process. Turning your phone off or disabling your connection will not stop the payment if you have hit send.