Facebook Messenger Will Soon Allow Users to Send Money to Friends & Family

Facebook announced that a new payment feature will be soon available for Facebook Messenger users living in the UK! The Payments feature was launched in the United States two years back. Although it is yet to hit Australia, it is definitely a sign for things to come.

How does it work?

With this payment feature, it will be easier for you  to send money to your close friends & family. All you need to do is link your debit card to your Facebook messenger account as well as tap “pay”, & enter the amount of money & hit send.

You will have to enter your PIN before you can finally send the amount of money and then the cash will be transferred to the person you want to send.

However, Facebook will not allow payment by credit card or integration with PayPal.

You will only be able to make payment if you have updated your Facebook Messenger app. Also there is a limit per transaction. This works with  Android as well as Apple handsets.

Is it safe & reliable?

According to the social media giant spokesperson David Marcus, this service as of now is intended for you to send money only to family as well as close friends.

“All debit card credentials are encrypted and protected with bank level security. Our anti-fraud specialists monitor payments, and in the rare case that we find unauthorised activity on an account, we’ll work with them to secure the account again,” he added.

“Plus, since payments in Messenger use debit cards, as with any other debit card payment, if there are unauthorised charges, people have recourse with their bank. Finally, Messenger payments are offered as a regulated payment service, meaning they’re directly subject to consumer protection requirements.”

Is it worth it?

This new payment feature speaks of a trouble-free way to do money transfer transactions thru an app. It can save us from the hassle of exchanging bank details with people & then carry out the transfer to a different app.

David Marcus also said, “Our research shows the top reasons for sending money include celebrations, social, and festive occasions. “It’s those everyday moments we’re trying to make a little easier – we’ve seen that in the U.S. most people use payments in Messenger to send less than $50 at a time.”