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Facebook Brings P2P Payments to Messenger Application


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Facebook has officially announced that its Messenger application is receiving an update that ushers in the ability to send money to others who utilize Messenger. The P2P feature, which is expected to roll out over the next few months and will allow Messenger users to tap a money icon to send money to others, will be accessible to Android, iOS, and desktop users located in the United States. The feature does require users to link their debit cards to the application in order to accept transferred funds, but Facebook has noted that credit cards, prepaid debit cards, and PayPal are not supported.

While Facebook does boast more than 500 million users, it faces quite a bit of challenge in the P2P payments market, as the ability to send money to others in a convenient way is certainly not a new idea, since PayPal, Snapchat, Square, and others have offered the feature for some time now.

Source: PCWorld

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