12:46 18th Mar, 2015
Facebook Messenger Will Soon Allow You To Send Money
To begin with a limited run for the US market only.
Facebook is indeed not new to money-related transactions. It is making plenty off games and advertisers currently, but it seems that it clearly isn’t enough.
This is because Facebook has just announced that it will soon allow you to send across money to your friends via its Messenger app.
The payment process that will first begin with the US market (for now) is pretty straightforward and simple.
Open the chat of the person you want to send across some money, click on the ‘$’ icon and then click the Pay button to send the same across. All you have to do post that is add your debit card details once.
Receiving money is even simpler. You simply tap “Add Card” and then enter your debit card details (the first time) to receive money.
Indeed this could be an ideal solution if you happen to be on the move and you urgently need to get some cash into your account for a variety of reasons (booking movie tickets, planning a trip, etc.)
Only problem is how long the transaction takes to process which according to the PR could take about 2-3 business days. Surely, kills the purpose of the whole idea if you need the cash instantly.
Facebook’s new Messenger feature will show up for the company’s US customers initially and then we will hopefully see a global roll-out later.
iOS users will also see Touch ID functionality being integrated for their devices and the feature is expected to hit the messenger app on your desktop (browser) as well.
Line messenger had introduced a similar feature last year, that was then followed by Snapchat with Snapcash. Coming to India, we already have Oxigen that accomplishes the same, not to mention the plethora of banking related apps that easily allow you to transfer cash from one account to another on the fly.
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