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Today Facebook announced a new peer-to-peer payment system which will work via their Messenger app. According to the company it’s a, “secure way to send or receive money between friends.” This free service is going to be rolling out to users over the next few months on Android, iOS & the desktop. (I checked on my phone and the feature is not yet enabled.)
At this time not much is known about the system other than it uses Facebook’s in-house technology and not a third party company to process payments. Additionally Facebook has said the service will only accept debit cards and will not cost anything.
Here is how it works according to their press release:
Adding a card:
The first time you send or receive money in Messenger, you’ll need to add a Visa or MasterCard debit card issued by a US bank to your account. Once you add a debit card, you can create a PIN to provide additional security the next time you send money.
To send money:
- Start a message with a friend
- Tap the $ icon and enter the amount you want to send
- Tap Pay in the top right and add your debit card to send money
To receive money:
- Open the conversation from your friend
- Tap Add Card in the message and add your debit card to accept money for the first time
HT: re/code
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Facebook a scam won’t release my money my friend sent me I use 10 debit cards all was rejected now I got money sitting I can’t use I’m so mad shame on u Facebook and I might sue they ass
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Hmm, any datapoints on gift cards? Is there a monthly limit? If it works for Visa GC this could be awesome.
Would this work like Amazon payments used to. ???
Has anyone been able to use this yet? I just checked and still not available on my account.
So looks like debit only. Wonder if gcs will work… Otherwise it’s just going to be useful for half-mile debit spend.
This one certainly could be fun for awhile. It’s got all the right ingredients: online payments, deep corporate pockets, and banking ignorance. You’ve got to love this stuff.
we’ll see how quickly this gets shut down when you try using 100 different debit cards. however, i could care less about burning FB messenger, so i’ll be glad to guinea pig it once in comes out
I agree. I hopefully will get banned and I will just tell my partner that I just can’t look at Bubba’s latest update or pic.