Send money to your friends using Facebook Messenger
Feature to roll out in the US over the coming months
A new feature for Facebook’s Messenger app will allow users to pay their friends money with a few taps of their smartphone.
This feature will – at least initially – only be available for users in the United States of America, and will be included in iOS, Android and desktop versions of Messenger.
“What do I owe you?”
This feature could be a convenient addition to Messenger, as it allows people to pay their friends back during an ongoing conversation, when they’re not necessarily in the same place.
They can figure out how much is owed by exchanging, then send the money straight over using a new '$' button on the user interface. This will take up to a few days to reach the other person's account, as with any other bank transfer.
The appeal is that you don’t need to take account details from your friends every time you want to pay them back. With the new Messenger feature, users enter their details the first time they either send or receive money, and this is stored for ease of use in the future.
A PIN can be set up to provide additional security when authorising payments, or iOS users can use Touch ID – a fingerprint recognition system.
Facebook says that its secure systems use “layers of software and hardware protection that meet the highest industry standards,” and a team of anti-fraud specialists will be monitoring the service for any suspicious activity.
It is unclear at the moment if there are plans implement the new feature in other countries.
Earn up to 5% interest from your current account
More from lovemoney.com:
Most Recent
Comments
-
It looks that people who have nothing to do go on Facebook, and once you are there, and have nothing to do again, you send money to your Friends. What a Joke or BS.
REPORT This comment has been reported. -
[b]This will take up to a few days to reach the other person's account, as with any other bank transfer. [/b] The introduction of the 'Faster Payments Service' passed LM by?
REPORT This comment has been reported.
Do you want to comment on this article? You need to be signed in for this feature
21 March 2015