Facebook has joined the wireless and cashless transaction bout among social networking sites, as it has just announced on Tuesday a new feature that allows users to easily send money to friends through the Facebook Messenger mobile app.
Through this the company aims to give people a more convenient and secure way to send or receive money between friends.
The process is simple. The user simply needs to open the Messenger app, strike a conversation with friend, tap the $ sign, enter amount he wants to send and tap Pay found at the top right and add debit card to send money.
Meanwhile in receiving money, user simply need to open conversation from the friend who sent money and tap the Add Card in the message and add debit card to accept money for the first time.
Facebook said that the money that will be sent will be transferred right away, but it may take one to three business days to make the money available depending on the user’s bank, just as it does with other deposits.
“Facebook processes more than one million transactions daily on the site and also handles all the payments processed on Messenger,” the statement said.
“We use secure systems that encrypt the connection between you and Facebook as well as your card information when you ask us to store it for you.”
Hopefully, Facebook will expand the service to other regions globally after it becomes available to U.S. users.
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