Facebook today announced a new feature for its Facebook Messenger app for iOS -- money transfers. It's now possible for Facebook Messenger users to send and receive money right within the app, letting Facebook compete with other money sending services like Venmo and Paypal.

The new money sending feature is free to use. Sending a friend a payment can be done by tapping the "$" icon located on top of the keyboard, which is also where stickers are accessed and photos are inserted. After tapping the icon, enter the amount to send, tap "Pay" in the top right corner of the app, and add a debit card (Visa or MasterCard) to make the payment.

facebookpayments
Receiving money can be done by opening the conversation from the friend who sent the money and adding a debit card to accept the money. Funds are transferred immediately when sent through the app, but it can take one to three business days for the money to be made available.

Facebook says that it uses multiple layers of software and hardware to protect its payment systems, and on iOS, the app can be secured with Touch ID.


According to Facebook, the new money sending feature will be rolling out over the coming months in the United States. The Facebook Messenger app can be downloaded from the App Store for free. [Direct Link]

Top Rated Comments

adamneer Avatar
99 months ago
So I suppose it's only a matter of time before they split this off into its own app, to make it a more streamlined and efficient experience for the user.
Score: 15 Votes (Like | Disagree)
bigrustyjc Avatar
99 months ago
bad idea

This has bad idea written all over it. I don't trust Facebook as far as I can throw them. There's no way I'm trusting them with sending money.
Score: 7 Votes (Like | Disagree)
chasemac Avatar
99 months ago
Everyone here is being unnecessarily negative.

Facebook has a knack for making life easier.

This makes life easier.

Life without Facebook is a lot easier. At least for me that is.
Score: 6 Votes (Like | Disagree)
keysofanxiety Avatar
99 months ago
There's absolutely no way this idea could end badly.
Score: 5 Votes (Like | Disagree)
J. Jizzle Avatar
99 months ago
No thank you, Facebook. I don't trust you enough for this.
Score: 5 Votes (Like | Disagree)
zadl11 Avatar
99 months ago
Now you can finally pay people to stop posting dumbass status updates.
Score: 3 Votes (Like | Disagree)

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