Social networking giant Facebook soon launching a new money transfer feature to its messenger app, like PayPal money transfer with free of cost. People using Facebook messenger in the US can already have this feature. They already send and receive money using this application. This service by Facebook soon expected to be rolled out in other countries as well.
Before the launch of the money transfer service on Messenger in the US, Facebook founder Mark Zuckerberg had said that he did want a part in becoming a payments processor.
These messenger payments are free and transition uses a PIN- based protection and “industry- leading security”, according to Facebook. To use this money transfer service, the user needs to add their debit card information. A user first requires adding his/her DEBIT CARD by tapping the “profile” icon, scroll down to “payments” option and then finishing the process by tapping on “Add new debit card”.
To make this mobile payments first tap on the button “payments”, then “next” to by- pass the information screen. By default, you will be in the “pay” screen. Enter the amount you want to pay the recipient and note indicating what the payment is for indicate the reason for the payment. Finally, tap the button “pay” and you’ re done!
Similarly, to make a request for receiving money, tap “request’ at the top of the screen, enter the amount and the reason for money requirement, then tap the “request” button again to complete the process.
Although this feature is only available in the US currently, it is expected to go live soon. Payments on this app require debit card on both ends of the transition but there is no attached cost to use this service. Coming to security aspect it offers a PIN- based protection and what Facebook claims are “industry-leading security” standards. Currently this money transfer feature by Facebook available to the people in us using Facebook messenger.