Facebook Messenger now allows Money Transfer amongst Friends
Facebook Messenger gets all new money transfer features and its easy and free. This service is initially available only for Messenger users in the U.S and will be available on Desktop, Android and iOS in coming months. Global roll out of this feature is still a mystery.
Users will get a $ icon in the chat message, on clicking users can enter the amount he / she wish to transfer than Pay (on the top right). User will have to enter debit card (Visa or MasterCard issued by US Bank) to send or receive the money. Users can also create a PIN for added security and a bonus for iOS users as they can also enable Touch ID. Facebook claims that the money is transferred right away however it can take up to three business days to make the money available depending on the banks involved.
Incorporating security best practices into our payments business has always been a top priority. 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. 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.