Facebook’s pushed Facebook Messenger by separating it from the core app. Today the company added a convenient feature to send and receive money from friends within the app. Users will simply hit a small “$” icon and type the amount they want to transfer. The same idea of peer-to-peer payments were added to Snapchat via Snapcash, but users worried about security.
Facebook put a lot of emphasis on security: “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. We use layers of software and hardware protection that meet the highest industry standards.” Facebook has accepted payments for games and advertising which have been secure and safe so far.
The service will come to iOS, Android, and the desktop in coming weeks. Users will need to add a MasterCard or Visa issued from a bank. Facebook’s avoiding credit cards to prevent fraud and cut down on fees. The company isn’t looking to profit off of the service, but help pay sending payments easy. We know everyone’s on Facebook and the Messenger app.
Tell us if you’ll use the Facebook peer-to-peer payment system or another service in the comments below.