Send money via Facebook Messenger for free

Facebook's Messenger app may soon be sending more than just instant messages and emoticons: it may also enable you to send money to friends, for free.

 

In a blog post, Facebook said the feature will roll out initially in the United States, though users may have to sign up for debit cards.

 

"The money you send is transferred right away. It may take one to three business days to make the money available to you depending on your bank, just as it does with other deposits," it said.

 

The new payments feature will roll out in the coming months in the US across Android, iOS, and desktop, it added.

 

Users who want to send money to a friend may tap the $ icon and enter the amount they want to send, then tap Pay and add debit card to send money.

 

Recipients of the money may tap Add Card in the message and add their debit card data to accept money for the first time.

 

Facebook said it has been a "dependable and trusted payments processor" for game players and advertisers since 2007.

 

It added it processes more than one million transactions daily on the site and also handles all the payments processed on Messenger.

 

Security

 

"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," it said.

 

Also, it said a team of anti-fraud specialists look out for suspicious purchase activity to help keep accounts safe.

 

Competitors

 

Tech site CNET said the new feature may help Facebook dominate mobile app messaging.

 

CNET also said this new feature helps Facebook keep its distance from prospective competitors such as Square, which partnered with Snapchat in November.

 

It also noted PayPal's Venmo and Square Cash link to users' debit cards, "making it easy to split a bill among friends."

 

CNET added mobile payments are becoming one of the biggest trends in Silicon Valley, with Apple's Apple Pay, and similar or upcoming services from Samsung, Google and PayPal. — Joel Locsin/TJD, GMA News