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BizReport : Mobile Marketing : March 18, 2015

Payments coming soon to Facebook Messenger app

U.S. users of Facebook will soon be able to send money to those on their Friend List using the Messenger mobile app.

by Helen Leggatt

An incredibly simple way to send money to Facebook friends will be launched among U.S. users of the social network in the coming months. Payments are already handled by the site for advertisers and games, with over a million in transactions taking place daily.

The Facebook Newsroom announcement today outlines how the process works with just a few taps in the Messenger mobile app. To send money all that is needed is to open a conversation, tip the $ icon and enter the amount to send. Tapping the Pay icon enables the user to add their debit card information. To receive money all that is required is to open the relevant Messenger conversation, tap the Add Card icon and add a debit card on which to receive the funds.

While the transfer is immediate, it can take 1-3 business days to appear in the destination account depending on the bank's usual deposit timings.

Above all, the payment system is very secure, says Facebook.

"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," assures the social network in their announcement. "We use layers of software and hardware protection that meet the highest industry standards. These payment systems are kept in a secured environment that is separate from other parts of the Facebook network and that receive additional monitoring and control. A team of anti-fraud specialists monitor for suspicious purchase activity to help keep accounts safe."

Image via Shutterstock

Tags: Facebook, mobile payments, social media

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