Facebook announced that it wants to take its popular Messenger app to the next level. The company reportedly wants to compete with other chat apps like Line, WhatsApp, Viber, and Google Hangouts. Now it sounds like Facebook wants to compete with Venmo, Snapchat, and PayPal with its new payment feature.
Users on Facebook will now be able to send and receive money through Messenger. The social networking site said that this will new feature would be made available in the U.S. in “the coming months.” Don’t take out your wallets just yet. Messenger will still be free to use when it comes to sending and receiving payments.
The new feature will be displayed through a dollar sign icon that’s below the text entry box. It will also be next to the icons used to add emojis, images, or audio notes. Once the icon and “Pay” is tapped, the user can then enter the amount of money they wish to send and transfer it from their bank account or debit card, according to Sky News. The user will then have to create a pin code to complete the payment. The friend will then have to open the message and enter his or bank account information to receive the money and complete the transfer.
It’s unclear whether or not this new feature will be made available to users outside of the U.S. Facebook said that the Messenger app is safe and secure to use. More than one million payments have already been placed on Facebook since its launch. It would make sense that a mobile payment feature would be added to Facebook Messenger.
“A dependable and trusted payments processor for game players and advertisers since 2007, Facebook processes more than one million transactions daily on the site and also handles all the payments processed on Messenger.
“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.”
This payment feature is not just for the Facebook Messenger app. It will also be available on the desktop version. Facebook also announced that iPhone users can use the Touch ID fingerprint scanner to send money.
Facebook Messenger also plans to work with 20 third-party apps in the near future. The company will make an announcement at the F8 Developer Conference next week, says InvestorPlace. Facebook wants to make the Messenger app “more useful, expressive and delightful.”
What would you ever use Facebook Messenger to send and receive payments?
[Image: Kārlis Dambrāns]