Facebook Messenger App for iOS Gains Money Transfer Feature

[MacRumors]

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.

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.

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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]

Article Link: Facebook Messenger App for iOS Gains Money Transfer Feature

 

[anzio]

Oh thank goodness. I wasn't sure how I'd get money to friends without something like this.

Very nifty idea, but I think I'll stick with Tangerine's transfer service.

 

[mimeArtist]

Has Steve Davis hit on hard times?

 

[gaximus]

This is pretty awesome, very useful. Now come on Apple Pay

 

[bigrustyjc]

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.

 

[thmsup]

Not available in Germany I guess, since I don't have the $ (or €) symbol for that matter. (yes, I already updated the app)


(okay, now i read the last line. SORRY FOLKS )

 

[Ray Brady]

So who pays the debit fee?

 

[fzfpff]

Not available in Germany I guess, since I don't have the $ (or €) symbol for that matter. (yes, I already updated the app)

this:

the new money sending feature will be rolling out over the coming months in the United States.

 

[adamneer]

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.

 

[Harmonious Zen]

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.

Haha, no kidding right?

I don't know that I see the point of this. more features just for the sake of more features.

 

[J. Jizzle]

No thank you, Facebook. I don't trust you enough for this.

 

[WordsmithMR]

I thought it was a bad idea when SnapChat implemented this, still think it's odd. However, if this is truly free as its claiming to be, then it is great. This info doesn't mention any fee on either end like PayPal and SnapChat have... Curious to see how this ends up.

 

[jdawgnoonan]

Nein.

 

[2457282]

!No Gracias!

Facebook is no longer on my devices. When I send money to my daughters I use Paypal (not because I use paypal, but becasue they do).

I see no need to use social media for financial transaction.

 

[keysofanxiety]

There's absolutely no way this idea could end badly.

 

[kolax]

GCHQ: "Why are you paying £25 every few weeks to this person who isn't tagged in any of your photos and all you message about is something to do with henry?"

 

[joejoejoe]

Everyone here is being unnecessarily negative.

Facebook has a knack for making life easier.

This makes life easier.

 

[andyvp]

That function is in the CASH app made by Square (credit card reader company)

The Cash app works perfectly, I use it often.

 

[zadl11]

Now you can finally pay people to stop posting dumbass status updates.

 

[chasemac]

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.

 

[joejoejoe]

Life without Facebook is a lot easier. At least for me that is.

If I'm traveling, facebook messenger makes communicating with people really easy, as 99.9% of people I know are on it.

I made a lot of friends while abroad, and we're more tuned into each others' lives thanks to facebook.

I'm a hoarder and a nostalgic, being able to go through years of photos and messages and posts via one consolidated platform is really satisfying.

Those would probably be my top 3.

But hey, a lot of people love unplugging from it--so I get it! Just sharing my POV.

 

[ArtOfWarfare]

Cool. Just two problems:

1 - It doesn't use Apple Pay, so I'm concerned about it being a potential attack vector.
2 - It's not in the Facebook app (seriously, knock it off Facebook and put Messenger back where it belongs. The tab is still there, even.)

 

[justperry]

If I'm traveling, facebook messenger makes communicating with people really easy, as 99.9% of people I know are on it.

I made a lot of friends while abroad, and we're more tuned into each others' lives thanks to facebook.

I'm a hoarder and a nostalgic, being able to go through years of photos and messages and posts via one consolidated platform is really satisfying.

Those would probably be my top 3.

But hey, a lot of people love unplugging from it--so I get it! Just sharing my POV.

Normal snailmail and later on email did just fine, why someone needs instant access to all (so called- optional) friends is beyond my understanding.
I travelled around the world on a pushbike before Facebook even existed, email did just fine, or just a call now and then to my family.

This of course is my personal opinion.

 

[KdParker]

Everyone here is being unnecessarily negative.

Facebook has a knack for making life easier.

This makes life easier.

Too much Facebook for my liking. I am not sure why Facebook keeps trying to be everyone access to the internet.

 

[the8thark]

I would not trust my money with facebook at all.
And it does not use Apple Pay. This is NOT secure. Therefore I will never use it.

----------

Everyone here is being unnecessarily negative.

Facebook has a knack for making life easier.

This makes life easier.

A lot less secure you mean. And if an issue arrises with the money transfer you're dealing with facebook to get the issue sorted out. Good luck getting justice there, not going to happen.