Back in October TechCrunch reported that Facebook is building peer-to-peer payments into Messenger and it was true. Because just like Gmail, Facebook also has today started money exchange service through email messenger. Facebook added a new feature in Messenger that gives people a more convenient and secure way to send or receive money between friends.
This new service is totally free and simple to use. You’ll have to add a Visa or MasterCard debit card issued by a US bank to your account only one time. Credit cards, prepaid debit cards and PayPal aren’t supported right now. It’ll prompt you to enter the details when you send or receive money first time in Messenger. Once you add a debit card, you can create a PIN to provide additional security the next time you send money. On iOS devices you can also enable Touch ID.
To send money:
- Start a message with a friend
- Tap the $ icon and enter the amount you want to send
- Tap Pay in the top right and add your debit card to send money
To receive money:
- Open the conversation from your friend
- Tap Add Card in the message and add your debit card to accept money for the first time
Facebook say that the money you send is transferred right away. And It may take one to three business days to make the money available to you depending on your bank, just as it does with other deposits. This new payments feature is rolling out in the coming months in the US across Android, iOS, and desktop. You can read the full report here