Facebook Inc. is permitting its users to send money to each other via its Messenger texting app for the first time. This feature update is available only in U.K but later it will roll out in other locations.
The social network said that Messenger users in the U.K. will be able to send money to each other when the feature rolls out in the next few weeks.
The new Facebook Messenger feature even comes with an assistant, designed to make sending money even simpler.
Virtual Assistant ‘M’ is on hand to recognize when you and your friend are chatting about money and you mention about your friend owing you money, M will pop up and remind you how you can easily send or receive a payment via the app.
How does it work?
To use the feature, Facebook Messenger users need to enter their debit card details into the app. This allows them to instantly transfer money via a message.
Facebook declares that all card details are encrypted and protected with “bank-level” security.
While sending a payment, all users need to do is tap the “new payments” icon and enter the amount that they wish to transfer to their pal.
To receive the money you will need to set up a debit card on your account.
You can only make payments using the Messenger App, on Apple, or Android phones ad there is a limit of Euro250 (18787.25approx) per transaction.