facebook pay

Facebook announced on Tuesday that US-based Messenger users will be able to use the app to send money to their Friends. The process, similar to Square’s ‘Cash,’ involves linking a debit card to the service, which you can use to send money just as easily as a photo or text.

Users who have received the update will notice that the Facebook Messenger app now includes a small “$” icon above the keyboard, next to photo and sticker icons. Tapping this opens a payments screen where users can enter in the amount they wish to send to the recipient.

Your money is then transferred to Facebook for “seconds,” before it’s pushed to the recipient’s bank. If they haven’t attached a debit card yet, Facebook will hold the money until they do. The entire system is in-house, so your debit card info will be housed on Facebook’s servers.

Speaking with Recode, Facebook product manager Steve Davis says the social network has been storing this kind of information for years, for app and game payments. In fact, they’ve added an extra security layer here: users must setup a pin number or Touch ID to send money.

It’ll be interesting to see what happens here, because if even a fraction of Messenger’s 500+ million users sign up, it would put Facebook on par with other mobile payment options such as Square or Apple Pay. But given FB’s ongoing privacy concerns, that may be a tough task.

The update is rolling out to all users in the United States. If you don’t already have Facebook Messenger, you can find it in the App Store for free.

Source: Recode

  • Jonathan

    Yeah, I totally trust payments through Facebook.

  • JDB

    Hahaha

  • Virus

    Wouldn’t trust Facebook with my Credit Card details

  • Sohail Wahab

    After an Apple event with Apple Pay announcement, everybody now provides their own payment system.
    I bet it’s gonna make online payments more susceptible to get hacked.

  • from Albania

    Hello everyone

    Why not displayed $$ button to my messenger?

    I made update the new version off messenger,

    Please tell me how to display,

    My country in appstore is United States?????

    Tell me

    • You have to be located in the US, with a U.S. bank account. If those situations don’t apply to you, then this functionality will not work for you.

  • It’s comical to see how bad the #1 Free App is rated. Everyone under the sun still can’t understand why Facebook needed a separate app for messaging, when the Facebook app used to do that already.
    Also a lot of speculation that the Facebook Messenger app is doing a whole lot more while it is running that just sending messages. It sure wants access to a lot of your personal data on iOS.

  • How does Facebook benefit from this?
    Do they take a cut of the money send? if so, at what rate?

    • Norbi Whitney

      They benefit by people using their app instead of other apps which do similar things.

    • They benefit by you putting your financial details on there, that way, they can use this service as an excuse to gain access to stuff like:

      – Your credit score/history
      – 100% confirmation that your ghost profile infos (name, address, etc.) are 100% accurate