Facebook has just introduced a new feature available on Messenger. Now, anyone in the United States can send money through the app or the desktop site.
The leading social media platform first announced the feature March this year. The feature was first introduced in New York City back in May.
The new move definitely goes to show how Facebook intends to stay on top. With the newly launched feature, users are surely going to spend more time and money on time on the platform - which is basically what Facebook wants.
Last week, Facebook let users sign up for the then upcoming feature just by registering the mobile numbers. Since the service has officially been launched, any Facebook user in the US can now transfer money to another user.
Upon the announcement, David Marcus - VP for Messenger - said, "Money goes straight from your checking account to the recipients' checking account. Easy and safe."
That seems to be trustworthy enough. Since Facebook gives high regard to customer feedback, Marcus even added, "As always, give it a try and let us know how we can make [it] even better for you!"
However, app users who want to use the service to both send and receive money are required to link a Mastercard or Visa debit or a credit card - basically like PayPal with more limited options.
Once the card has been linked to their accounts, users will only need to tap a dollar sign icon to be redirected to the transaction processing. From there, users will only need to input the amount of money the wish to send.
Of course, the service has a security feature through a PIN code before the transactions can actually be processed. Users making transactions on an iOS device can opt to forego the PIN by simply using Touch ID.
Facebook also carries an additional security feature for the service. For every transaction, the transferred data undergoes "an encrypted connection." The encryption allows users to confidently disclose their credit or debit card numbers without the worry of hackers' access.
Users can expect the transaction to be shown in their respective bank accounts within three banking days.
