BrandArena: Facebook Launches Peer-To-Peer Payments

Thursday 19 March 2015

Facebook Launches Peer-To-Peer Payments

In a long-awaited move, Facebook revealed a peer-to-peer or friend-to-friend payments feature on Tuesday that will allow users to send money to one another through Messenger.

The new payments feature is rolling out in the US on iOS, Android and desktop in the coming months, the social giant said this week. Having formerly served as president of PayPal, Facebook Messenger head David Marcus is no stranger to the payments space.

iOS users will be able to enable TouchID to secure transfers.

Facebook knows trust will be an issue here, and is reassuring users. The connection between the user and Facebook will be encrypted, as will their card information, and the site will keep its payments systems separate from other parts of the Facebook network.
“A dependable and trusted payments processor for game players and advertisers since 2007, Facebook processes more than one million transactions daily on the site”, the company said.

If you are with a big group, it can be a pain to separate checks between everyone, this could make it easy for everyone to just money transfer to a single person to pay the bill. Facebook is one of those companies that has grown so much over the years, and I think this development is just one of many new and exciting concepts they will have in the coming years. I know I will definitely be using this money transfer service.

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