Facebook Enters the Realm of Money Transferring

Derek Schou
by Derek Schou 20 Mar, 2015

Taking a cue from competitor Snapchat, Facebook has released a new way for friends to send each other money without having to leave its Messenger app.

To take advantage of the new feature users must first add either a Visa or MasterCard debit card to their Facebook account. Then, for an added layer of security, users also have the option to create a PIN or, if they are on an iOS device, enable Touch ID.

Once users have their payment information entered into Messenger the process to send friend money is simple: just tap the "$" icon while in a message thread and enter the amount of money you want to send. Recipients of the payment do not have to do anything to receive their money unless they do not have their debit card information already stored on Messenger in which case they must do so before receiving the payment.

The feature will be rolling out to those in the US across Android, iOS and desktop.